SPX Technologies, Inc. $SPXC Stock Position Increased by Bank of Montreal Can

Bank of Montreal Can increased its position in SPX Technologies, Inc. (NYSE:SPXC) by 3.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,202 shares of the company’s stock after acquiring an additional 299 shares during the period. Bank of Montreal Can’s holdings in SPX Technologies were worth $1,371,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SPXC. Nuveen LLC bought a new stake in SPX Technologies in the first quarter worth about $88,852,000. Charles Schwab Investment Management Inc. grew its stake in shares of SPX Technologies by 1.7% in the 1st 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 last quarter. Northern Trust Corp raised its holdings in shares of SPX Technologies by 1.0% in the 1st 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% during 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 purchasing an additional 2,505 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its stake in 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 purchasing an additional 26,201 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $211.24 on Friday. The stock has a market cap of $10.53 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The business has a fifty day simple moving average of $194.81 and a 200-day simple moving average of $178.43. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $233.71.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.SPX Technologies’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the topic of several recent research reports. B. Riley restated a “buy” rating and issued a $225.00 price target (up previously from $212.00) on shares of SPX Technologies in a research report on Monday, October 27th. Bank of America began coverage on SPX Technologies in a research note on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price objective for the company. TD Cowen started coverage on SPX Technologies in a research report on Monday, November 10th. They set a “hold” rating and a $225.00 target price on the stock. UBS Group upped their target price on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.22.

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.