SPX Technologies, Inc. $SPXC Shares Bought by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,764 shares of the company’s stock after buying an additional 3,682 shares during the period. EFG Asset Management North America Corp. owned approximately 0.07% of SPX Technologies worth $5,742,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in SPX Technologies by 8.1% during the 1st 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 period. AQR Capital Management LLC raised its stake in shares of SPX Technologies by 74.5% during the first 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 during the last quarter. Millennium Management LLC lifted its holdings in shares of SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after purchasing an additional 56,799 shares during the period. NewEdge Advisors LLC grew its position in SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after buying an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in SPX Technologies by 1.8% in the 1st 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 during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPXC. Wells Fargo & Company began coverage on shares of SPX Technologies in a research note on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price for the company. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Bank of America started coverage on SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective on the stock. B. Riley reissued a “buy” rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $214.14.

SPX Technologies Stock Performance

SPXC opened at $215.29 on Tuesday. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $233.71. The stock has a market cap of $10.73 billion, a P/E ratio of 46.10, a P/E/G ratio of 1.76 and a beta of 1.33. The stock’s 50 day simple moving average is $210.35 and its 200 day simple moving average is $197.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70.

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 the consensus estimate 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 return on equity of 18.68% and a net margin of 10.33%.SPX Technologies’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Insider Buying and Selling at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. 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 firm’s stock in a transaction dated 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 transaction, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This trade represents a 37.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.32% of the company’s stock.

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.