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

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXCGet Rating) by 13.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 48,664 shares of the company’s stock after acquiring an additional 5,768 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of SPX Technologies worth $2,404,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Bank of America Corp DE grew its stake in shares of SPX Technologies by 25.4% during the first quarter. Bank of America Corp DE now owns 210,772 shares of the company’s stock worth $10,415,000 after acquiring an additional 42,709 shares during the last quarter. Verition Fund Management LLC purchased a new stake in SPX Technologies in the first quarter valued at approximately $642,000. Mirae Asset Global Investments Co. Ltd. boosted its position in SPX Technologies by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 280,881 shares of the company’s stock valued at $13,878,000 after buying an additional 25,441 shares during the last quarter. First Republic Investment Management Inc. boosted its position in SPX Technologies by 84.3% in the first quarter. First Republic Investment Management Inc. now owns 7,044 shares of the company’s stock valued at $348,000 after buying an additional 3,222 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in SPX Technologies by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 77,698 shares of the company’s stock valued at $3,839,000 after buying an additional 3,253 shares during the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

SPX Technologies Trading Down 2.5 %

Shares of NYSE:SPXC opened at $55.99 on Wednesday. SPX Technologies, Inc. has a 12-month low of $41.66 and a 12-month high of $68.24. The company has a market capitalization of $2.53 billion, a PE ratio of 7.21, a PEG ratio of 1.13 and a beta of 1.23. The business has a 50 day moving average of $58.06 and a two-hundred day moving average of $52.20. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.21.

SPX Technologies (NYSE:SPXCGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. SPX Technologies had a return on equity of 10.25% and a net margin of 27.91%. The company had revenue of $354.00 million during the quarter, compared to the consensus estimate of $341.43 million. As a group, analysts forecast that SPX Technologies, Inc. will post 2.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. TheStreet upgraded SPX Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, July 19th.

Insider Transactions at SPX Technologies

In other news, insider John William Swann III sold 9,365 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total transaction of $515,075.00. Following the completion of the transaction, the insider now directly owns 83,472 shares of the company’s stock, valued at approximately $4,590,960. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

SPX Technologies Profile

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SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.

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Institutional Ownership by Quarter for SPX Technologies (NYSE:SPXC)

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