SG Americas Securities LLC Has $1.21 Million Position in SPX Technologies, Inc. $SPXC

SG Americas Securities LLC raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 124.8% in the third quarter, HoldingsChannel.com reports. The firm owned 6,489 shares of the company’s stock after buying an additional 3,602 shares during the period. SG Americas Securities LLC’s holdings in SPX Technologies were worth $1,212,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SPXC. Invesco Ltd. increased its position in shares of SPX Technologies by 22.3% during the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock worth $194,035,000 after acquiring an additional 210,682 shares in the last quarter. Geode Capital Management LLC increased its holdings in SPX Technologies by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock worth $182,211,000 after purchasing an additional 17,735 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of SPX Technologies by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after purchasing an additional 14,941 shares during the last quarter. Norges Bank bought a new position in shares of SPX Technologies in the second quarter valued at approximately $97,223,000. Finally, Geneva Capital Management LLC boosted its position in shares of SPX Technologies by 5.9% during 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 last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Up 1.7%

SPXC stock opened at $217.22 on Friday. The stock has a fifty day moving average of $210.31 and a 200-day moving average of $195.90. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $233.71. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 1.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. The business had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, equities research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of analyst reports. Bank of America started coverage on SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. 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 research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target on the stock. Finally, TD Cowen initiated coverage on shares of SPX Technologies in a research report on Monday, November 10th. They issued a “hold” rating and a $225.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, SPX Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $214.14.

Insider Activity at SPX Technologies

In related news, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This trade represents a 37.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. The SEC filing for this sale provides additional information. 3.32% of the stock is currently owned by company insiders.

About SPX Technologies

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.