Teachers Retirement System of The State of Kentucky Has $4.66 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Teachers Retirement System of The State of Kentucky decreased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,799 shares of the company’s stock after selling 1,411 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.07% of SPX Technologies worth $4,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in shares of SPX Technologies by 26.6% during the second quarter. Truist Financial Corp now owns 6,349 shares of the company’s stock worth $902,000 after buying an additional 1,334 shares in the last quarter. Creative Planning grew its stake in SPX Technologies by 26.9% in the second quarter. Creative Planning now owns 13,526 shares of the company’s stock valued at $1,923,000 after purchasing an additional 2,868 shares in the last quarter. Algert Global LLC acquired a new stake in shares of SPX Technologies in the second quarter valued at approximately $1,147,000. Driehaus Capital Management LLC boosted its stake in shares of SPX Technologies by 7.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 336,377 shares of the company’s stock worth $47,813,000 after acquiring an additional 23,112 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of SPX Technologies during the 2nd quarter worth approximately $384,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Up 0.7 %

NYSE:SPXC opened at $159.61 on Thursday. The firm’s 50 day simple moving average is $152.32 and its 200 day simple moving average is $140.42. 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 one year low of $77.84 and a one year high of $165.13. The company has a market cap of $7.38 billion, a PE ratio of 77.86, a P/E/G ratio of 1.60 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last issued 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 firm had revenue of $501.30 million for 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 company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer cut shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research note 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.