New York State Teachers Retirement System Sells 2,100 Shares of SPX Technologies, Inc. (NYSE:SPXC)

New York State Teachers Retirement System reduced its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,219 shares of the company's stock after selling 2,100 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of SPX Technologies worth $8,909,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in SPX Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company's stock worth $275,864,000 after purchasing an additional 22,177 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock worth $164,888,000 after buying an additional 8,916 shares during the period. Conestoga Capital Advisors LLC raised its stake in SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock worth $114,640,000 after buying an additional 160,535 shares during the last quarter. Janus Henderson Group PLC raised its stake in SPX Technologies by 45.3% during the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company's stock worth $111,100,000 after buying an additional 217,316 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SPX Technologies by 29.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock valued at $99,408,000 after buying an additional 142,544 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group decreased their price target on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Sidoti cut 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 note on Friday, December 6th. Finally, Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $168.50.

SPX Technologies Stock Down 4.4 %

Shares of SPXC stock traded down $6.49 on Friday, reaching $140.18. 315,781 shares of the company were exchanged, compared to its average volume of 288,646. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company has a 50-day moving average of $148.06 and a 200-day moving average of $155.56. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 1.35 and a beta of 1.29. SPX Technologies, Inc. has a one year low of $103.11 and a one 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.