Hilltop National Bank Makes New Investment in SPX Technologies, Inc. $SPXC

Hilltop National Bank acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 726 shares of the company’s stock, valued at approximately $122,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. NBC Securities Inc. acquired a new stake in SPX Technologies in the first quarter worth approximately $27,000. Eastern Bank bought a new stake in shares of SPX Technologies in the 1st quarter worth $38,000. SVB Wealth LLC acquired a new stake in shares of SPX Technologies in the first quarter valued at $39,000. Quarry LP bought a new position in SPX Technologies during the first quarter valued at about $57,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in SPX Technologies by 211.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company’s stock worth $78,000 after acquiring an additional 410 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPXC stock opened at $190.13 on Friday. The firm has a 50 day simple moving average of $188.92 and a 200 day simple moving average of $163.94. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $209.38. The stock has a market cap of $8.89 billion, a P/E ratio of 42.72, a P/E/G ratio of 1.62 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SPXC. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday. Oppenheimer lifted their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. UBS Group increased their price objective on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SPX Technologies in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Buy” and an average price target of $195.20.

About SPX Technologies

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.