Hsbc Holdings PLC Buys New Shares in SPX Technologies, Inc. $SPXC

Hsbc Holdings PLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,106 shares of the company’s stock, valued at approximately $2,222,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in SPX Technologies in the second quarter valued at approximately $1,189,365,000. Capital International Investors bought a new stake in SPX Technologies during the fourth quarter worth $307,494,000. First Trust Advisors LP grew its position in shares of SPX Technologies by 181.4% in the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock valued at $272,492,000 after acquiring an additional 878,494 shares during the period. Invesco Ltd. increased its stake in shares of SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of SPX Technologies during the 4th quarter worth about $123,721,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on SPXC shares. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a report on Monday, August 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Truist Financial reiterated a “buy” rating and set a $301.00 target price (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Stock Performance

NYSE:SPXC opened at $198.26 on Monday. The stock’s 50-day simple moving average is $217.60 and its 200 day simple moving average is $217.03. The firm has a market capitalization of $9.93 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a twelve month low of $179.62 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, analysts anticipate that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal year.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.