Maryland State Retirement & Pension System Has $1.93 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Maryland State Retirement & Pension System decreased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,449 shares of the company’s stock after selling 141 shares during the period. Maryland State Retirement & Pension System’s holdings in SPX Technologies were worth $1,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in SPX Technologies by 4.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company’s stock valued at $321,000 after purchasing an additional 132 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of SPX Technologies by 5.5% in the third quarter. Evergreen Capital Management LLC now owns 3,458 shares of the company’s stock worth $281,000 after buying an additional 181 shares during the last quarter. US Bancorp DE lifted its position in shares of SPX Technologies by 3.3% in the fourth quarter. US Bancorp DE now owns 7,254 shares of the company’s stock worth $733,000 after buying an additional 232 shares during the last quarter. Seven Eight Capital LP lifted its position in shares of SPX Technologies by 7.5% in the third quarter. Seven Eight Capital LP now owns 4,173 shares of the company’s stock worth $340,000 after buying an additional 291 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of SPX Technologies by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 23,007 shares of the company’s stock worth $2,324,000 after buying an additional 393 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insider Activity

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $143.89, for a total value of $5,670,992.68. Following the sale, the insider now owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.53% of the stock is currently owned by company insiders.

SPX Technologies Stock Performance

NYSE:SPXC traded down $1.81 during trading hours on Friday, hitting $141.49. 9,904 shares of the company traded hands, compared to its average volume of 241,806. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. SPX Technologies, Inc. has a twelve month low of $76.61 and a twelve month high of $146.50. The firm has a 50-day moving average of $137.20 and a 200 day moving average of $119.47. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 69.90, a P/E/G ratio of 1.49 and a beta of 1.20.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.19. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business had revenue of $465.20 million during the quarter, compared to analysts’ expectations of $454.05 million. During the same quarter last year, the company earned $0.93 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. On average, analysts forecast that SPX Technologies, Inc. will post 5.36 EPS for the current year.

Wall Street Analysts Forecast Growth

SPXC has been the subject of a number of analyst reports. UBS Group boosted their price target on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Oppenheimer boosted their price target on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a research report on Friday, May 3rd. Finally, StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th.

SPX Technologies Company 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.