SPX Technologies, Inc. $SPXC Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 14.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,553 shares of the company’s stock after selling 42,790 shares during the quarter. New York State Common Retirement Fund’s holdings in SPX Technologies were worth $46,798,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SPXC. Cullen Frost Bankers Inc. grew its stake in shares of SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after purchasing an additional 54 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SPX Technologies during the 2nd quarter worth about $31,000. Financial Consulate Inc. acquired a new stake in shares of SPX Technologies during the 3rd quarter valued at about $34,000. MAI Capital Management grew its position in shares of SPX Technologies by 80.9% during the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after acquiring an additional 93 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in shares of SPX Technologies in the 3rd quarter valued at about $42,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Price Performance

SPX Technologies stock opened at $208.31 on Friday. The company has a fifty day simple moving average of $210.99 and a 200-day simple moving average of $198.67. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 1.77 and a beta of 1.33. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $233.71.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. The firm had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. SPX Technologies’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 earnings per share. On average, equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on SPXC. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Bank of America started coverage on SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Finally, TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $214.14.

Insider Activity at SPX Technologies

In other news, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.32% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.