Park Avenue Securities LLC Takes $1.15 Million Position in SPX Technologies, Inc. $SPXC

Park Avenue Securities LLC bought a new position in SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, Holdings Channel reports. The firm bought 6,158 shares of the company’s stock, valued at approximately $1,150,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPXC. Twin Peaks Wealth Advisors LLC acquired a new position in SPX Technologies in the second quarter worth $31,000. Financial Consulate Inc. acquired a new stake in shares of SPX Technologies in the third quarter valued at $34,000. MAI Capital Management raised its holdings in shares of 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 buying an additional 93 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in SPX Technologies during the 3rd quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 164 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John William Swann III sold 38,755 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This trade represents a 37.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the transaction, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.32% of the company’s stock.

SPX Technologies Stock Up 0.5%

NYSE:SPXC opened at $208.49 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $233.71. The stock’s fifty day simple moving average is $210.81 and its 200-day simple moving average is $194.84. The firm has a market capitalization of $10.39 billion, a P/E ratio of 44.65, a P/E/G ratio of 1.74 and a beta of 1.33.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS 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 during the quarter, compared to the consensus estimate of $574.32 million. During the same quarter in the prior year, the company posted $1.39 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of research reports. B. Riley reiterated a “buy” rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Truist Financial boosted their price objective on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Wall Street Zen upgraded 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 note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target on the stock. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.