State of New Jersey Common Pension Fund D Decreases Position in SPX Technologies, Inc. (NYSE:SPXC)

State of New Jersey Common Pension Fund D lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 39.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,973 shares of the company’s stock after selling 11,660 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SPX Technologies were worth $2,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPXC. Crewe Advisors LLC purchased a new position in SPX Technologies in the 2nd quarter valued at approximately $28,000. UMB Bank n.a. lifted its position in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 193 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of SPX Technologies during the 2nd quarter worth $39,000. YHB Investment Advisors Inc. purchased a new stake in shares of SPX Technologies during the 1st quarter worth $51,000. Finally, GAMMA Investing LLC lifted its position in shares of SPX Technologies by 122.6% during the 2nd quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insider Activity at SPX Technologies

In related 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 completion of the sale, the insider now directly owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.53% of the stock is owned by corporate insiders.

SPX Technologies Price Performance

SPX Technologies stock opened at $154.79 on Thursday. The stock has a market cap of $7.16 billion, a P/E ratio of 75.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a fifty day simple moving average of $150.74 and a 200-day simple moving average of $137.28. SPX Technologies, Inc. has a 12-month low of $77.84 and a 12-month high of $164.91. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm had revenue of $501.30 million during the quarter, compared to analysts’ expectations of $492.08 million. During the same period in the previous year, the company earned $1.06 earnings per share. SPX Technologies’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

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.