State of New Jersey Common Pension Fund D Lowers Stake in SPX Technologies, Inc. (NYSE:SPXC)

State of New Jersey Common Pension Fund D reduced its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 39.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,973 shares of the company’s stock after selling 11,660 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SPX Technologies were worth $2,555,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SPXC. Choreo LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at about $282,000. Emerald Advisers LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at about $13,346,000. Emerald Mutual Fund Advisers Trust acquired a new stake in SPX Technologies in the 2nd quarter valued at about $10,708,000. Acadian Asset Management LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at about $856,000. Finally, Private Advisor Group LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at about $979,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SPX Technologies

In other news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the sale, the insider now owns 52,657 shares in the company, valued at approximately $7,576,815.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.53% of the company’s stock.

SPX Technologies Stock Down 0.2 %

Shares of NYSE SPXC opened at $154.79 on Thursday. The company has a 50 day simple moving average of $150.74 and a 200-day simple moving average of $137.28. The company has a market capitalization of $7.16 billion, a P/E ratio of 75.51, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. SPX Technologies, Inc. has a 1 year low of $77.84 and a 1 year high of $164.91.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.17. The business had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Ratings Changes

Separately, Oppenheimer downgraded shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

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.