Squarepoint Ops LLC Sells 48,409 Shares of SPX Technologies, Inc. $SPXC

Squarepoint Ops LLC cut its stake in SPX Technologies, Inc. (NYSE:SPXC) by 84.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the company’s stock after selling 48,409 shares during the period. Squarepoint Ops LLC’s holdings in SPX Technologies were worth $1,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SPXC. Invesco Ltd. lifted its stake in shares of SPX Technologies by 22.3% in the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock valued at $194,035,000 after buying an additional 210,682 shares during the period. Geode Capital Management LLC lifted its position in shares of SPX Technologies by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock worth $182,211,000 after acquiring an additional 17,735 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of SPX Technologies by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after purchasing an additional 14,941 shares in the last quarter. Norges Bank bought a new stake in shares of SPX Technologies during the second quarter valued at approximately $97,223,000. Finally, Northern Trust Corp increased its position in shares of SPX Technologies by 1.0% during the first 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 during the period. Institutional investors own 92.82% of the company’s stock.

Insiders Place Their Bets

In related news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction dated Wednesday, November 19th. The stock was 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the transaction, the insider owned 38,020 shares in the company, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPXC shares. B. Riley reiterated a “buy” rating and set a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Truist Financial increased their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Thursday. Bank of America assumed coverage on SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a report on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $214.14.

SPX Technologies Price Performance

NYSE:SPXC opened at $203.91 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The firm has a market cap of $10.16 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 1.98 and a beta of 1.32. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $233.71. The company’s 50-day moving average price is $206.84 and its two-hundred day moving average price is $189.03.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter last 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, equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal 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.