Ensign Peak Advisors Inc Sells 2,900 Shares of SPX Technologies, Inc. $SPXC

Ensign Peak Advisors Inc reduced its position in SPX Technologies, Inc. (NYSE:SPXC) by 16.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,262 shares of the company’s stock after selling 2,900 shares during the quarter. Ensign Peak Advisors Inc’s holdings in SPX Technologies were worth $2,559,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SPXC. Geode Capital Management LLC boosted its position in SPX Technologies by 1.7% during the second quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock valued at $182,211,000 after acquiring an additional 17,735 shares during the last quarter. Nuveen LLC acquired a new position in shares of SPX Technologies in the 1st quarter valued at about $88,852,000. Charles Schwab Investment Management Inc. lifted 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 valued at $81,886,000 after purchasing an additional 10,501 shares during the period. Northern Trust Corp boosted its position in shares of SPX Technologies by 1.0% during the 1st quarter. Northern Trust Corp now owns 544,145 shares of the company’s stock valued at $70,075,000 after purchasing an additional 5,644 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew 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 worth $66,305,000 after purchasing an additional 2,505 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Wednesday, November 19th. Wells Fargo & Company initiated coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price on the stock. Bank of America assumed coverage on shares of SPX Technologies in a research note on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price on the stock. TD Cowen started coverage on shares of SPX Technologies in a report on Monday, November 10th. They issued a “hold” rating and a $225.00 price target for the company. Finally, UBS Group upped their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 1st. Six investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

Insider Buying and Selling at SPX Technologies

In related news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the transaction, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. The trade was a 37.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is owned by corporate insiders.

SPX Technologies Stock Up 0.2%

Shares of NYSE SPXC opened at $216.18 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The company has a 50-day moving average price of $198.19 and a 200-day moving average price of $182.29. The stock has a market capitalization of $10.77 billion, a P/E ratio of 48.58, a P/E/G ratio of 2.06 and a beta of 1.36. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $233.71.

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, beating the consensus estimate of $1.60 by $0.24. The business had revenue of $592.80 million for the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

SPX Technologies 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.