SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,790 shares of the company’s stock after buying an additional 245 shares during the period. Arizona State Retirement System’s holdings in SPX Technologies were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of SPX Technologies by 3.5% in the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock valued at $637,067,000 after purchasing an additional 173,021 shares during the period. Artisan Partners Limited Partnership lifted its stake in SPX Technologies by 15.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company’s stock valued at $81,800,000 after buying an additional 106,798 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in SPX Technologies by 17.4% in 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 last quarter. Norges Bank purchased a new stake in SPX Technologies during the 4th quarter worth approximately $48,528,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SPX Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company’s stock valued at $46,143,000 after acquiring an additional 11,882 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insider Activity

In related news, insider J Randall Data sold 39,412 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the transaction, the insider now owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.53% of the company’s stock.

Wall Street Analyst Weigh In

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

SPX Technologies Stock Performance

SPX Technologies stock opened at $144.53 on Thursday. The firm has a 50 day simple moving average of $149.80 and a 200-day simple moving average of $135.94. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 70.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. SPX Technologies, Inc. has a 1-year low of $77.84 and a 1-year high of $164.91.

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

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.