KBC Group NV Sells 795 Shares of SPX Technologies, Inc. $SPXC

KBC Group NV decreased its position in SPX Technologies, Inc. (NYSE:SPXC) by 36.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,357 shares of the company’s stock after selling 795 shares during the period. KBC Group NV’s holdings in SPX Technologies were worth $228,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SPXC. Nuveen LLC bought a new position in shares of SPX Technologies in the 1st quarter worth about $88,852,000. Charles Schwab Investment Management Inc. grew its stake in SPX Technologies by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company’s stock worth $81,886,000 after purchasing an additional 10,501 shares during the period. Northern Trust Corp increased its holdings in SPX Technologies by 1.0% in the first quarter. Northern Trust Corp now owns 544,145 shares of the company’s stock worth $70,075,000 after purchasing an additional 5,644 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in SPX Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 514,858 shares of the company’s stock valued at $66,305,000 after buying an additional 2,505 shares during the period. Finally, Geneva Capital Management LLC lifted its stake in SPX Technologies by 5.9% in the second quarter. Geneva Capital Management LLC now owns 472,748 shares of the company’s stock valued at $79,270,000 after buying an additional 26,201 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPXC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a research report on Thursday, November 13th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company began coverage on shares of SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective on the stock. UBS Group increased their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Bank of America initiated coverage on SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.22.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $204.99 on Wednesday. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $233.71. The company has a market cap of $10.22 billion, a P/E ratio of 46.06, a P/E/G ratio of 2.06 and a beta of 1.36. The firm has a 50-day moving average of $195.56 and a 200-day moving average of $179.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. The business had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Equities research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

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.