Teachers Retirement System of The State of Kentucky Reduces Stake in SPX Technologies, Inc. (NYSE:SPXC)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 34,210 shares of the company’s stock after selling 1,285 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in SPX Technologies were worth $4,212,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SPXC. YHB Investment Advisors Inc. purchased a new stake in SPX Technologies during the 1st quarter worth about $51,000. Palisade Asset Management LLC purchased a new stake in SPX Technologies during the 1st quarter worth about $74,000. TFO Wealth Partners LLC increased its stake in SPX Technologies by 58,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after acquiring an additional 1,168 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of SPX Technologies by 54.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after acquiring an additional 475 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of SPX Technologies during the 4th quarter valued at about $173,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th. William Blair reiterated an “outperform” rating on shares of SPX Technologies in a research report on Friday, May 3rd. StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Finally, UBS Group lifted their price target on SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th.

Insiders Place Their Bets

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of SPX Technologies stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $143.89, for a total value of $5,670,992.68. Following the transaction, the insider now directly owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.53% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE SPXC traded up $1.36 during trading hours on Friday, reaching $144.65. 555,986 shares of the stock traded hands, compared to its average volume of 327,813. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $143.28 and its two-hundred day simple moving average is $126.82. The company has a market capitalization of $6.69 billion, a P/E ratio of 70.57, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. SPX Technologies, Inc. has a 52-week low of $76.61 and a 52-week high of $164.91.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.16. The business had revenue of $501.30 million for the quarter, compared to analysts’ expectations of $492.08 million. SPX Technologies had a return on equity of 19.56% and a net margin of 5.53%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. Equities research analysts forecast that SPX Technologies, Inc. will post 5.37 EPS for the current year.

SPX Technologies Company Profile

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.