Maryland State Retirement & Pension System Sells 6,598 Shares of SPX Technologies, Inc. $SPXC

Maryland State Retirement & Pension System lowered its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 48.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,101 shares of the company’s stock after selling 6,598 shares during the period. Maryland State Retirement & Pension System’s holdings in SPX Technologies were worth $1,326,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after acquiring an additional 2,892 shares during the last quarter. AQR Capital Management LLC increased its position in SPX Technologies by 74.5% during the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after purchasing an additional 8,854 shares in the last quarter. Millennium Management LLC lifted its stake in 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 purchasing an additional 56,799 shares during the last quarter. NewEdge Advisors LLC boosted its position in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after buying an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in SPX Technologies by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after buying an additional 3,353 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Insiders Place Their Bets

In related news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the transaction, the insider owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This trade represents a 37.62% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.32% of the company’s stock.

SPX Technologies Stock Down 0.4%

Shares of SPXC opened at $216.87 on Wednesday. The stock’s 50-day moving average price is $210.06 and its two-hundred day moving average price is $196.69. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $233.71. The company has a market capitalization of $10.81 billion, a PE ratio of 46.44, a PEG ratio of 1.82 and a beta of 1.33. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The company had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. During the same period last year, the company earned $1.39 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial upped their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Wells Fargo & Company began coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price for the company. B. Riley reiterated a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Bank of America began coverage on SPX Technologies in a research note on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price target on the stock. Finally, TD Cowen assumed coverage on SPX Technologies in a research note on Monday, November 10th. They issued a “hold” rating and a $225.00 price objective for the company. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average 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.