Park Avenue Securities LLC Invests $1.15 Million in SPX Technologies, Inc. $SPXC

Park Avenue Securities LLC acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,158 shares of the company’s stock, valued at approximately $1,150,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in SPX Technologies during the 2nd quarter worth $97,223,000. Invesco Ltd. lifted its position in shares of SPX Technologies by 22.3% during the 2nd quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock worth $194,035,000 after purchasing an additional 210,682 shares during the last quarter. Fisher Asset Management LLC bought a new stake in SPX Technologies during the 2nd quarter valued at approximately $19,817,000. Franklin Resources Inc. grew its holdings in SPX Technologies by 33.3% in the 2nd quarter. Franklin Resources Inc. now owns 301,284 shares of the company’s stock valued at $50,519,000 after buying an additional 75,263 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in SPX Technologies by 37.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 231,673 shares of the company’s stock worth $43,272,000 after buying an additional 63,174 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

Shares of SPX Technologies stock opened at $208.49 on Tuesday. The firm has a market cap of $10.39 billion, a P/E ratio of 44.65, a price-to-earnings-growth ratio of 1.74 and a beta of 1.33. The firm’s 50-day simple moving average is $210.81 and its 200-day simple moving average is $194.84. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $233.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. The firm had revenue of $592.80 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last 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, research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SPXC. Cowen restated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. 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 upped their price objective on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Wells Fargo & Company initiated coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price on the stock. Finally, B. Riley restated a “buy” rating and set a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.14.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of SPX Technologies 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 completion of the transaction, the insider directly owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This trade represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,584,440.00. Following the completion of the sale, the insider owned 38,020 shares in the company, valued at $8,188,367.40. This 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 owned by company insiders.

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.