SPX Technologies, Inc. $SPXC Stock Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,856 shares of the company’s stock after selling 2,968 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of SPX Technologies worth $4,642,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SPXC. Nisa Investment Advisors LLC lifted its position in shares of SPX Technologies by 4.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,399 shares of the company’s stock valued at $822,000 after acquiring an additional 192 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of SPX Technologies by 124.8% during the third quarter. SG Americas Securities LLC now owns 6,489 shares of the company’s stock valued at $1,212,000 after purchasing an additional 3,602 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of SPX Technologies in the 3rd quarter valued at $1,150,000. Cerity Partners LLC raised its holdings in SPX Technologies by 2.5% during the 3rd quarter. Cerity Partners LLC now owns 60,935 shares of the company’s stock worth $11,381,000 after buying an additional 1,490 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in SPX Technologies by 4.1% during the third quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the company’s stock valued at $4,240,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Trading Down 0.0%

Shares of NYSE:SPXC opened at $207.35 on Monday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $233.71. The firm has a fifty day moving average price of $210.95 and a 200 day moving average price of $194.55. The stock has a market capitalization of $10.33 billion, a PE ratio of 44.40, a P/E/G ratio of 1.74 and a beta of 1.33. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The business had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. During the same period last year, the business earned $1.39 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Analysts expect 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 John William Swann III sold 38,755 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This represents a 37.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares in the company, valued at $8,188,367.40. This trade represents a 23.99% decrease in their position. The SEC filing for this sale provides additional information. 3.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SPXC. B. Riley reissued a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Truist Financial boosted their target price on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company assumed coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.14.

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.