SPX Technologies, Inc. $SPXC Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445,263 shares of the company’s stock after selling 68,406 shares during the period. First Trust Advisors LP owned about 0.95% of SPX Technologies worth $74,662,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in SPX Technologies during the second quarter valued at about $31,000. MAI Capital Management raised its holdings in shares of SPX Technologies by 80.9% during 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 purchased a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $39,000. Quarry LP acquired a new position in SPX Technologies in the 1st quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insider Activity

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 value of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares in the company, valued at approximately $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

SPXC has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price for the company. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen started coverage on SPX Technologies in a report on Monday, November 10th. They issued a “hold” rating and a $225.00 target price on the stock. Bank of America initiated coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a research report on Monday, December 1st. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.43.

SPX Technologies Stock Up 0.4%

Shares of SPX Technologies stock opened at $209.13 on Friday. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 44.78, a P/E/G ratio of 1.96 and a beta of 1.32. The stock has a 50-day simple moving average of $201.61 and a 200-day simple moving average of $185.00. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $233.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70.

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 the consensus estimate 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 10.33% and a return on equity of 18.68%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

SPX Technologies 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.