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

New York State Common Retirement Fund reduced its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,473 shares of the company's stock after selling 55,099 shares during the period. New York State Common Retirement Fund owned 0.59% of SPX Technologies worth $39,941,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Creative Planning increased its stake in shares of SPX Technologies by 17.6% during the 3rd quarter. Creative Planning now owns 15,900 shares of the company's stock worth $2,535,000 after purchasing an additional 2,374 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of SPX Technologies by 30.4% in the 3rd 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 last quarter. Sequoia Financial Advisors LLC grew its stake in shares of SPX Technologies by 7.1% during the third quarter. Sequoia Financial Advisors LLC now owns 3,301 shares of the company's stock valued at $526,000 after buying an additional 219 shares during the last quarter. Signaturefd LLC lifted its position in SPX Technologies by 65.2% in the third quarter. Signaturefd LLC now owns 542 shares of the company's stock valued at $86,000 after purchasing an additional 214 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in SPX Technologies by 132.0% in the 3rd 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 last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Down 4.4 %

Shares of NYSE SPXC traded down $6.49 during mid-day trading on Friday, reaching $140.18. 315,781 shares of the company were exchanged, compared to its average volume of 288,647. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 37.68, a P/E/G ratio of 1.35 and a beta of 1.29. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $148.06 and a 200 day moving average of $155.56. SPX Technologies, Inc. has a 1 year low of $103.11 and a 1 year high of $183.83.

Analyst Upgrades and Downgrades

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

SPX Technologies 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.