SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 9.1% during the 3rd quarter, Holdings Channel reports. The firm owned 29,801 shares of the company’s stock after selling 2,998 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SPX Technologies were worth $4,752,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at $51,070,000. Janus Henderson Group PLC grew its position in shares of SPX Technologies by 45.3% in the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after purchasing an additional 217,316 shares during the period. Select Equity Group L.P. purchased a new stake in shares of SPX Technologies during the second quarter worth about $24,904,000. Hood River Capital Management LLC raised its position in shares of SPX Technologies by 1,342.6% during the 2nd quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock worth $26,657,000 after purchasing an additional 174,537 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock valued at $34,921,000 after buying an additional 145,225 shares in the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 1.6 %

SPXC stock opened at $158.20 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $164.96 and a two-hundred day moving average of $153.87. SPX Technologies, Inc. has a 12 month low of $90.28 and a 12 month high of $183.83. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 42.53, a PEG ratio of 1.61 and a beta of 1.26.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, analysts forecast that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SPX Technologies has an average rating of “Hold” and a consensus target price of $164.00.

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.