TD Waterhouse Canada Inc. Sells 3,090 Shares of SPX Technologies, Inc. $SPXC

TD Waterhouse Canada Inc. cut its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 11.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,981 shares of the company’s stock after selling 3,090 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in SPX Technologies were worth $3,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GSA Capital Partners LLP purchased a new position in SPX Technologies in the first quarter worth $890,000. Allspring Global Investments Holdings LLC bought a new stake in SPX Technologies during the second quarter worth about $218,000. Dynamic Technology Lab Private Ltd lifted its stake in SPX Technologies by 794.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company’s stock worth $1,819,000 after purchasing an additional 12,546 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of SPX Technologies in the 2nd quarter worth about $1,878,000. Finally, Nicholas Company Inc. bought a new position in shares of SPX Technologies during the 2nd quarter valued at about $3,322,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $199.56 on Friday. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 2.06 and a beta of 1.36. The stock has a fifty day moving average of $196.10 and a 200 day moving average of $180.29. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $233.71. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.60 by $0.24. The business had revenue of $592.80 million during the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPXC. TD Cowen began coverage on SPX Technologies in a report on Monday, November 10th. They set a “hold” rating and a $225.00 price objective on the stock. Wells Fargo & Company started coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target on the stock. UBS Group boosted their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Wednesday. Finally, Bank of America started coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, SPX Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $205.22.

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.