New York State Common Retirement Fund Sells 42,790 Shares of SPX Technologies, Inc. $SPXC

New York State Common Retirement Fund decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 14.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,553 shares of the company’s stock after selling 42,790 shares during the quarter. New York State Common Retirement Fund owned approximately 0.54% of SPX Technologies worth $46,798,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in shares of SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares during the period. Ameritas Investment Partners Inc. increased its position in SPX Technologies by 1.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock valued at $782,000 after purchasing an additional 56 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of SPX Technologies by 1.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock valued at $644,000 after purchasing an additional 63 shares in the last quarter. Sage Rhino Capital LLC lifted its position in shares of SPX Technologies by 5.3% in the 3rd quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock worth $252,000 after purchasing an additional 68 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of SPX Technologies by 0.6% during the second quarter. Amalgamated Bank now owns 13,246 shares of the company’s stock valued at $2,221,000 after purchasing an additional 76 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This trade represents a 37.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders own 3.32% of the company’s stock.

SPX Technologies Trading Down 1.7%

SPX Technologies stock opened at $208.31 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The stock has a market cap of $10.38 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 1.77 and a beta of 1.33. The stock has a 50-day moving average of $210.99 and a two-hundred day moving average of $198.67. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $233.71.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million during 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 revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the subject of a number of analyst reports. TD Cowen restated a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Wells Fargo & Company started coverage on SPX Technologies in a research note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. Truist Financial raised their price objective on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. B. Riley reissued a “buy” rating and set a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $214.14.

About SPX Technologies

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.