SPX Technologies, Inc. $SPXC Stock Holdings Trimmed by Legal & General Group Plc

Legal & General Group Plc lessened its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,009 shares of the company’s stock after selling 6,893 shares during the period. Legal & General Group Plc owned about 0.30% of SPX Technologies worth $23,141,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new position in SPX Technologies during the first quarter worth $88,852,000. Champlain Investment Partners LLC acquired a new stake in shares of SPX Technologies during the first quarter worth $52,699,000. Channing Capital Management LLC lifted its position in shares of SPX Technologies by 35.3% in the 1st quarter. Channing Capital Management LLC now owns 415,393 shares of the company’s stock worth $53,494,000 after buying an additional 108,329 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of SPX Technologies in the 1st quarter worth about $9,039,000. Finally, Millennium Management LLC boosted its holdings in shares of SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after buying an additional 56,799 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SPXC. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Wednesday, November 19th. Wells Fargo & Company initiated coverage on SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price for the company. UBS Group raised their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. TD Cowen assumed coverage on SPX Technologies in a research note on Monday, November 10th. They set a “hold” rating and a $225.00 price objective for the company. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $216.18 on Friday. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $233.71. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The business has a 50 day simple moving average of $198.70 and a 200 day simple moving average of $182.52. 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 announced its 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. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. During the same quarter in the previous year, the business earned $1.39 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Insiders Place Their Bets

In related news, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction dated 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 sale, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.32% of the stock is owned by insiders.

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.