NorthCrest Asset Manangement LLC Boosts Holdings in SPX Technologies, Inc. $SPXC

NorthCrest Asset Manangement LLC raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 52.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,309 shares of the company’s stock after acquiring an additional 4,215 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in SPX Technologies were worth $2,318,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SPXC. Wealth Enhancement Advisory Services LLC increased its holdings in SPX Technologies by 5.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,269 shares of the company’s stock worth $616,000 after buying an additional 164 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of SPX Technologies by 7.0% during the 3rd quarter. Amalgamated Bank now owns 14,176 shares of the company’s stock valued at $2,648,000 after acquiring an additional 930 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of SPX Technologies by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock worth $644,000 after acquiring an additional 63 shares during the period. Evergreen Capital Management LLC lifted its position in SPX Technologies by 23.0% during the third quarter. Evergreen Capital Management LLC now owns 4,920 shares of the company’s stock valued at $919,000 after purchasing an additional 920 shares during the period. Finally, EULAV Asset Management purchased a new stake in SPX Technologies in the third quarter worth approximately $13,448,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction that occurred 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 transaction, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction 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 owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Stock Performance

NYSE SPXC opened at $217.22 on Tuesday. The stock has a market capitalization of $10.83 billion, a PE ratio of 46.51, a P/E/G ratio of 1.82 and a beta of 1.33. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $233.71. The business has a 50 day simple moving average of $210.15 and a two-hundred day simple moving average of $196.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.24. The company had revenue of $592.80 million for the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. SPX Technologies’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. B. Riley reissued a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. TD Cowen assumed coverage on shares of SPX Technologies in a research note on Monday, November 10th. They set a “hold” rating and a $225.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and four have given 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 price target of $214.14.

SPX Technologies 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.