Illinois Municipal Retirement Fund Sells 1,172 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Illinois Municipal Retirement Fund reduced its stake in SPX Technologies, Inc. (NYSE:SPXC) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,723 shares of the company’s stock after selling 1,172 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SPX Technologies were worth $2,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SPXC. MCF Advisors LLC bought a new position in shares of SPX Technologies in the fourth quarter worth about $173,000. Segment Wealth Management LLC purchased a new stake in shares of SPX Technologies in the fourth quarter worth $202,000. Cerity Partners LLC bought a new stake in shares of SPX Technologies during the 4th quarter valued at $204,000. Cornerstone Investment Partners LLC bought a new stake in SPX Technologies during the fourth quarter valued at about $213,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of SPX Technologies during the fourth quarter worth about $233,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

SPXC stock opened at $119.88 on Thursday. The company has a fifty day simple moving average of $117.15 and a two-hundred day simple moving average of $101.07. The company has a quick ratio of 1.08, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. SPX Technologies, Inc. has a 52 week low of $61.09 and a 52 week high of $124.81. The firm has a market capitalization of $5.54 billion, a P/E ratio of 62.44, a price-to-earnings-growth ratio of 1.33 and a beta of 1.25.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. The firm had revenue of $469.40 million for the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. Analysts anticipate that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Transactions at SPX Technologies

In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following 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 SEC, which is available through the SEC website. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction dated Wednesday, March 20th. The stock was 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 owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 667,045 shares in the company, valued at $76,936,970.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,373 shares of company stock worth $10,962,146. 3.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on SPXC. UBS Group upped their price target on SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $134.00 target price (up from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th.

SPX Technologies 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.