SPX Technologies, Inc. $SPXC Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. reduced its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 6.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 347,300 shares of the company’s stock after selling 24,353 shares during the quarter. Brown Advisory Inc. owned approximately 0.74% of SPX Technologies worth $58,235,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SPXC. Twin Peaks Wealth Advisors LLC acquired a new stake in SPX Technologies during the second quarter worth about $31,000. MAI Capital Management boosted its stake in SPX Technologies by 80.9% in the second quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after acquiring an additional 93 shares during the period. SVB Wealth LLC bought a new position in shares of SPX Technologies during the first quarter valued at approximately $39,000. EverSource Wealth Advisors LLC raised its position in shares of SPX Technologies by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $71,000 after purchasing an additional 164 shares during the period. Finally, Quarry LP bought a new stake in shares of SPX Technologies in the 1st quarter worth approximately $57,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC opened at $209.13 on Friday. The firm has a market capitalization of $10.42 billion, a PE ratio of 44.78, a P/E/G ratio of 1.96 and a beta of 1.32. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $201.61 and a 200 day moving average price of $184.79. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $233.71.

SPX Technologies (NYSE:SPXC) last released 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 company had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. SPX Technologies’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on SPX Technologies in a research note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. TD Cowen initiated coverage on shares of SPX Technologies in a report on Monday, November 10th. They set a “hold” rating and a $225.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a report on Monday. Bank of America began coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective on the stock. Finally, B. Riley restated a “buy” rating and issued a $225.00 target price (up previously from $212.00) on shares of SPX Technologies in a research report on Monday, October 27th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.43.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by company insiders.

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.