New York State Common Retirement Fund Cuts Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

New York State Common Retirement Fund decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,473 shares of the company’s stock after selling 55,099 shares during the period. New York State Common Retirement Fund owned about 0.59% of SPX Technologies worth $39,941,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SPXC. Creative Planning lifted its holdings in SPX Technologies by 17.6% during the third quarter. Creative Planning now owns 15,900 shares of the company’s stock worth $2,535,000 after acquiring an additional 2,374 shares during the period. Raymond James & Associates lifted its holdings in SPX Technologies by 30.4% during the third quarter. Raymond James & Associates now owns 57,098 shares of the company’s stock worth $9,105,000 after acquiring an additional 13,312 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in SPX Technologies by 7.1% during the third quarter. Sequoia Financial Advisors LLC now owns 3,301 shares of the company’s stock worth $526,000 after acquiring an additional 219 shares during the period. Signaturefd LLC lifted its holdings in SPX Technologies by 65.2% during the third quarter. Signaturefd LLC now owns 542 shares of the company’s stock worth $86,000 after acquiring an additional 214 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in SPX Technologies by 132.0% during the third quarter. Assenagon Asset Management S.A. now owns 120,904 shares of the company’s stock worth $19,279,000 after acquiring an additional 68,798 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SPXC. Wolfe Research began coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price on the stock. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $187.00 to $175.00 in a research note on Friday, December 6th. Finally, UBS Group lowered their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $168.50.

SPX Technologies Stock Performance

Shares of SPXC opened at $146.54 on Friday. The firm has a market cap of $6.79 billion, a PE ratio of 39.39, a PEG ratio of 1.37 and a beta of 1.29. The stock’s fifty day moving average price is $148.29 and its two-hundred day moving average price is $155.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies, Inc. has a 1 year low of $103.11 and a 1 year high of $183.83.

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.