Louisiana State Employees Retirement System Buys New Stake in SPX Technologies, Inc. (NYSE:SPXC)

Louisiana State Employees Retirement System bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 22,800 shares of the company’s stock, valued at approximately $2,303,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sapient Capital LLC bought a new stake in SPX Technologies during the fourth quarter worth approximately $384,000. Cerity Partners LLC bought a new stake in shares of SPX Technologies in the 4th quarter worth $204,000. Segment Wealth Management LLC acquired a new stake in shares of SPX Technologies in the fourth quarter valued at $202,000. Sequoia Financial Advisors LLC boosted its stake in SPX Technologies by 4.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company’s stock valued at $321,000 after buying an additional 132 shares in the last quarter. Finally, Wakefield Asset Management LLLP grew its holdings in SPX Technologies by 10.8% during the fourth quarter. Wakefield Asset Management LLLP now owns 10,972 shares of the company’s stock worth $1,108,000 after acquiring an additional 1,068 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insider Buying and Selling at SPX Technologies

In other news, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now directly owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 sale, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now directly owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The disclosure for this sale can be found here. Insiders have sold a total of 94,373 shares of company stock worth $10,962,146 over the last three months. Corporate insiders own 3.53% of the company’s stock.

SPX Technologies Stock Down 0.3 %

SPXC stock opened at $118.77 on Wednesday. The company’s 50 day simple moving average is $115.83 and its 200-day simple moving average is $99.64. The firm has a market capitalization of $5.49 billion, a P/E ratio of 61.86, a P/E/G ratio of 1.32 and a beta of 1.25. SPX Technologies, Inc. has a 52-week low of $61.09 and a 52-week 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.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $481.98 million. During the same period in the prior year, the business earned $1.17 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that SPX Technologies, Inc. will post 5.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $134.00 price target (up previously from $124.00) on shares of SPX Technologies in a report on Thursday, March 28th. Finally, StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $130.00.

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.