Illinois Municipal Retirement Fund Has $2.60 Million Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Illinois Municipal Retirement Fund trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,723 shares of the company’s stock after selling 1,172 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of SPX Technologies worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SPXC. SG Americas Securities LLC bought a new position in SPX Technologies in the 3rd quarter valued at about $1,376,000. Greenwood Capital Associates LLC lifted its stake in SPX Technologies by 11.6% during the 3rd quarter. Greenwood Capital Associates LLC now owns 7,550 shares of the company’s stock valued at $615,000 after acquiring an additional 785 shares in the last quarter. Peregrine Capital Management LLC grew its stake in shares of SPX Technologies by 3.7% in the 3rd quarter. Peregrine Capital Management LLC now owns 177,310 shares of the company’s stock worth $14,433,000 after acquiring an additional 6,402 shares in the last quarter. Raymond James & Associates raised its holdings in shares of SPX Technologies by 133.1% in the third quarter. Raymond James & Associates now owns 9,832 shares of the company’s stock valued at $800,000 after purchasing an additional 5,614 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of SPX Technologies by 3.4% during the third quarter. Brown Advisory Inc. now owns 84,307 shares of the company’s stock valued at $6,863,000 after purchasing an additional 2,746 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Trading Down 0.4 %

Shares of SPXC stock opened at $119.88 on Thursday. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 62.44, a PEG ratio of 1.33 and a beta of 1.25. SPX Technologies, Inc. has a 1 year low of $61.09 and a 1 year high of $124.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. The company’s fifty day simple moving average is $117.15 and its two-hundred day simple moving average is $101.07.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The firm had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $481.98 million. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. As a group, analysts anticipate that SPX Technologies, Inc. will post 5.03 earnings per share for the current year.

Insider Transactions at SPX Technologies

In related news, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the transaction, the chief executive officer now directly owns 597,936 shares of the company’s stock, valued at approximately $69,049,649.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,373 shares of company stock valued at $10,962,146. 3.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SPXC has been the subject of several analyst reports. UBS Group increased their price objective on shares of SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Oppenheimer restated an “outperform” rating and set a $134.00 price target (up previously from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. Finally, StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 15th.

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.