Quadrature Capital Ltd Has $539,000 Position in SPX Technologies, Inc. $SPXC

Quadrature Capital Ltd cut its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 38.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,213 shares of the company’s stock after selling 2,038 shares during the quarter. Quadrature Capital Ltd’s holdings in SPX Technologies were worth $539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPXC. Nuveen LLC acquired a new position in SPX Technologies in the 1st quarter valued at approximately $88,852,000. Champlain Investment Partners LLC acquired a new stake in shares of SPX Technologies during the 1st quarter worth approximately $52,699,000. Channing Capital Management LLC increased its position in shares of SPX Technologies by 35.3% during the first quarter. Channing Capital Management LLC now owns 415,393 shares of the company’s stock valued at $53,494,000 after purchasing an additional 108,329 shares during the period. Franklin Resources Inc. raised its stake in shares of SPX Technologies by 33.3% in the second quarter. Franklin Resources Inc. now owns 301,284 shares of the company’s stock valued at $50,519,000 after purchasing an additional 75,263 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of SPX Technologies in the first quarter valued at $9,039,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Down 3.1%

Shares of SPX Technologies stock opened at $208.47 on Tuesday. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $233.71. The stock has a market capitalization of $10.39 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The company has a 50-day simple moving average of $199.62 and a 200 day simple moving average of $183.71. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. The firm had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPXC shares. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company initiated coverage on shares of SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. TD Cowen began coverage on shares of SPX Technologies in a research report on Monday, November 10th. They set a “hold” rating and a $225.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $225.00 price target (up previously from $212.00) on shares of SPX Technologies in a research report on Monday, October 27th. Finally, Truist Financial initiated coverage on shares of SPX Technologies in a research note on Monday, October 20th. They set a “hold” rating and a $209.00 price target for the company. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Insider Buying and Selling

In related news, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was 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 $13,243,294.62. This trade represents a 37.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by company insiders.

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.