Hsbc Holdings PLC Sells 4,118 Shares of SPX Technologies, Inc. $SPXC

Hsbc Holdings PLC cut its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 37.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,994 shares of the company’s stock after selling 4,118 shares during the period. Hsbc Holdings PLC’s holdings in SPX Technologies were worth $895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SPXC. Marshall Wace LLP bought a new position in SPX Technologies in the 4th quarter worth approximately $361,000. Northern Trust Corp boosted its holdings in SPX Technologies by 11.7% in the 4th quarter. Northern Trust Corp now owns 538,501 shares of the company’s stock worth $78,363,000 after buying an additional 56,221 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in SPX Technologies by 178.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,470 shares of the company’s stock worth $942,000 after buying an additional 4,146 shares during the period. Comerica Bank boosted its holdings in SPX Technologies by 25.4% in the 4th quarter. Comerica Bank now owns 86,267 shares of the company’s stock worth $12,554,000 after buying an additional 17,472 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in SPX Technologies in the 4th quarter worth approximately $279,000. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Performance

NYSE SPXC opened at $187.26 on Friday. The company’s 50 day simple moving average is $181.45 and its two-hundred day simple moving average is $155.94. 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 stock has a market capitalization of $8.76 billion, a PE ratio of 42.08, a P/E/G ratio of 1.59 and a beta of 1.27. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to analysts’ expectations of $546.03 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 10.2% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the subject of several analyst reports. B. Riley initiated coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a “buy” rating and a $195.00 price objective for the company. UBS Group increased their target price on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Oppenheimer increased their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $195.20.

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.