Public Sector Pension Investment Board Sells 3,600 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Public Sector Pension Investment Board lessened its stake in SPX Technologies, Inc. (NYSE:SPXC) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,078 shares of the company’s stock after selling 3,600 shares during the period. Public Sector Pension Investment Board owned about 0.21% of SPX Technologies worth $15,640,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Earnest Partners LLC boosted its position in shares of SPX Technologies by 3.3% during the 2nd quarter. Earnest Partners LLC now owns 1,066,426 shares of the company’s stock valued at $151,582,000 after purchasing an additional 33,675 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of SPX Technologies by 74.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock valued at $100,023,000 after purchasing an additional 267,965 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of SPX Technologies by 29.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock valued at $99,408,000 after purchasing an additional 142,544 shares in the last quarter. Principal Financial Group Inc. raised its stake in SPX Technologies by 17.4% during the 2nd quarter. Principal Financial Group Inc. now owns 520,416 shares of the company’s stock worth $73,972,000 after buying an additional 77,008 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in SPX Technologies by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company’s stock worth $56,516,000 after buying an additional 8,931 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $175.00 on Friday. The company has a market cap of $8.11 billion, a PE ratio of 47.04, a price-to-earnings-growth ratio of 1.75 and a beta of 1.22. SPX Technologies, Inc. has a 52 week low of $83.98 and a 52 week high of $183.83. The business has a 50 day moving average price of $163.50 and a 200-day moving average price of $152.14. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

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

Analyst Upgrades and Downgrades

Separately, Wolfe Research assumed coverage on SPX Technologies in a research note on Monday. They set an “outperform” rating and a $199.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of “Hold” and an average target price of $160.33.

About SPX Technologies

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.