SPX Technologies, Inc. $SPXC Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,064 shares of the company’s stock after selling 3,319 shares during the period. Granite Investment Partners LLC’s holdings in SPX Technologies were worth $3,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its stake in SPX Technologies by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock worth $782,000 after purchasing an additional 56 shares during the period. GAMMA Investing LLC increased its holdings in shares of SPX Technologies by 5.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,140 shares of the company’s stock worth $191,000 after buying an additional 64 shares during the last quarter. AlphaCore Capital LLC raised its position in shares of SPX Technologies by 3.4% during the 1st quarter. AlphaCore Capital LLC now owns 2,068 shares of the company’s stock valued at $266,000 after buying an additional 68 shares during the period. Amalgamated Bank lifted its holdings in SPX Technologies by 0.6% in the second quarter. Amalgamated Bank now owns 13,246 shares of the company’s stock valued at $2,221,000 after acquiring an additional 76 shares during the last quarter. Finally, MAI Capital Management lifted its holdings in SPX Technologies by 80.9% in the second quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insider Transactions at SPX Technologies

In other news, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction 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 sale, the insider owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPXC. Bank of America assumed coverage on SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price on the stock. Wells Fargo & Company began coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. Truist Financial initiated coverage on shares of SPX Technologies in a report on Monday, October 20th. They issued a “hold” rating and a $209.00 price objective on the stock. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a research note on Monday. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Moderate Buy” and an average target price of $206.00.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $208.57 on Wednesday. The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of 46.87, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. 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 business has a 50-day moving average of $200.04 and a 200 day moving average of $184.08. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $233.71.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping 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 business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current 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.