New York State Common Retirement Fund Reduces Stake in SPX Technologies, Inc. (NYSE:SPXC)

New York State Common Retirement Fund lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 387,447 shares of the company's stock after selling 43,090 shares during the quarter. New York State Common Retirement Fund owned 0.85% of SPX Technologies worth $39,136,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SPXC. Artisan Partners Limited Partnership grew its stake in SPX Technologies by 74.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 703,026 shares of the company's stock valued at $57,226,000 after acquiring an additional 301,084 shares during the last quarter. FMR LLC grew its stake in SPX Technologies by 23.0% in the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company's stock valued at $108,990,000 after acquiring an additional 250,494 shares during the last quarter. Ameriprise Financial Inc. grew its stake in SPX Technologies by 11.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company's stock valued at $128,583,000 after acquiring an additional 165,544 shares during the last quarter. Robeco Schweiz AG acquired a new stake in SPX Technologies in the 3rd quarter valued at about $10,977,000. Finally, Fiera Capital Corp purchased a new position in SPX Technologies in the 3rd quarter valued at about $5,442,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 0.0 %

NYSE SPXC traded up $0.02 during mid-day trading on Thursday, hitting $119.90. The company's stock had a trading volume of 218,347 shares, compared to its average volume of 231,418. SPX Technologies, Inc. has a 52-week low of $61.09 and a 52-week high of $124.81. The stock's fifty day simple moving average is $117.15 and its two-hundred day simple moving average is $101.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. The firm has a market capitalization of $5.55 billion, a P/E ratio of 62.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.25.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, meeting the consensus estimate of $1.25. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The firm had revenue of $469.40 million for the quarter, compared to analyst estimates of $481.98 million. During the same quarter last year, the firm posted $1.17 earnings per share. SPX Technologies's revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts expect that SPX Technologies, Inc. will post 5.03 EPS for the current year.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the sale, the insider now owns 82,884 shares of the company's stock, valued at $9,747,987.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the sale, the chief executive officer now owns 667,045 shares of the company's stock, valued at $76,936,970.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares of the company's stock, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,373 shares of company stock worth $10,962,146. Company insiders own 3.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPXC. Oppenheimer restated an "outperform" rating and issued a $134.00 target price (up from $124.00) on shares of SPX Technologies in a report on Thursday, March 28th. UBS Group upped their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the company a "neutral" rating in a report on Wednesday, March 27th. Finally, StockNews.com lowered shares of SPX Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 15th.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.