Amundi Sells 4,787 Shares of SPX Technologies, Inc. $SPXC

Amundi lessened its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 16.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,264 shares of the company’s stock after selling 4,787 shares during the quarter. Amundi owned about 0.05% of SPX Technologies worth $3,078,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC boosted its position in SPX Technologies by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock worth $102,920,000 after purchasing an additional 11,400 shares during the period. Nuveen Asset Management LLC boosted its position in shares of SPX Technologies by 1.7% in the fourth quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company’s stock valued at $102,714,000 after acquiring an additional 11,771 shares during the period. Nuveen LLC bought a new position in shares of SPX Technologies in the first quarter valued at approximately $88,852,000. Charles Schwab Investment Management Inc. boosted its position in shares of SPX Technologies by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company’s stock valued at $81,886,000 after acquiring an additional 10,501 shares during the period. Finally, Northern Trust Corp boosted its position in shares of SPX Technologies by 1.0% in the first quarter. Northern Trust Corp now owns 544,145 shares of the company’s stock valued at $70,075,000 after acquiring an additional 5,644 shares during the period. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SPX Technologies Trading Up 1.3%

Shares of SPX Technologies stock opened at $190.40 on Friday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38. The firm has a market cap of $8.90 billion, a PE ratio of 42.79, a PEG ratio of 1.60 and a beta of 1.32. 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 company has a 50 day simple moving average of $185.10 and a two-hundred day simple moving average of $158.41.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

SPX Technologies Company 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.