SPX Technologies, Inc. $SPXC Stake Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 524.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,596 shares of the company’s stock after acquiring an additional 8,898 shares during the quarter. Hsbc Holdings PLC’s holdings in SPX Technologies were worth $2,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. Invesco Ltd. boosted its stake in SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares in the last quarter. Capital International Investors bought a new stake in shares of SPX Technologies in the 4th quarter worth $307,494,000. Geode Capital Management LLC raised its stake in shares of SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after buying an additional 63,889 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of SPX Technologies by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock valued at $235,368,000 after buying an additional 84,117 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of SPX Technologies by 0.4% in the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the period. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPXC shares. Wells Fargo & Company lifted their target price on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Truist Financial raised their price objective on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Monday, May 4th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Finally, BMO Capital Markets began coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.44.

SPX Technologies Trading Up 2.9%

SPX Technologies stock opened at $238.57 on Tuesday. SPX Technologies, Inc. has a 52 week low of $165.15 and a 52 week high of $251.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 1.70 and a beta of 1.28. The company has a 50 day moving average price of $221.00 and a 200 day moving average price of $216.16.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Research analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current year.

SPX Technologies Company 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.