Public Sector Pension Investment Board Sells 3,600 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Public Sector Pension Investment Board decreased its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,078 shares of the company's stock after selling 3,600 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of SPX Technologies worth $15,640,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new position in shares of SPX Technologies during the first quarter valued at approximately $358,000. GAMMA Investing LLC increased its position in SPX Technologies by 122.6% during the 2nd quarter. GAMMA Investing LLC now owns 423 shares of the company's stock valued at $60,000 after buying an additional 233 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in SPX Technologies by 99.9% during the second quarter. Harbor Capital Advisors Inc. now owns 10,485 shares of the company's stock valued at $1,490,000 after buying an additional 5,239 shares during the last quarter. Park Avenue Securities LLC bought a new stake in SPX Technologies in the second quarter worth $607,000. Finally, Hilltop National Bank purchased a new stake in shares of SPX Technologies in the second quarter worth $39,000. Institutional investors own 92.82% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wolfe Research started coverage on SPX Technologies in a research report on Monday. They issued an "outperform" rating and a $199.00 price target for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $160.33.

SPX Technologies Stock Up 0.8 %

SPXC stock traded up $1.44 during midday trading on Friday, hitting $176.44. The company's stock had a trading volume of 122,096 shares, compared to its average volume of 249,059. The firm's 50-day moving average is $163.78 and its 200-day moving average is $152.40. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 12 month low of $84.62 and a 12 month high of $183.83. The company has a market cap of $8.18 billion, a PE ratio of 47.43, a P/E/G ratio of 1.75 and a beta of 1.22.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. During the same period in the prior year, the company posted $1.06 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

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.