Hsbc Holdings PLC Grows Holdings in SPX Technologies, Inc. $SPXC

Hsbc Holdings PLC increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 524.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,596 shares of the company’s stock after buying an additional 8,898 shares during the period. Hsbc Holdings PLC’s holdings in SPX Technologies were worth $2,132,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors acquired a new position in SPX Technologies during the 4th quarter worth $307,494,000. Invesco Ltd. raised its stake in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares in the last quarter. Norges Bank bought a new position in shares of SPX Technologies during the fourth quarter worth about $123,721,000. AustralianSuper Pty Ltd acquired a new position in SPX Technologies in the third quarter worth about $41,092,000. Finally, ArrowMark Colorado Holdings LLC bought a new stake in SPX Technologies in the fourth quarter valued at about $34,898,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on SPXC. Wells Fargo & Company increased their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. increased their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets initiated coverage on SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target on the stock. Finally, Truist Financial upped their price objective on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.44.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $238.57 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $221.00 and a 200-day simple moving average of $216.16. The company has a market cap of $11.94 billion, a PE ratio of 46.69, a P/E/G ratio of 1.70 and a beta of 1.28. SPX Technologies, Inc. has a 12-month low of $165.15 and a 12-month high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities research analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current year.

About SPX Technologies

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.