TD Asset Management Inc Sells 2,294 Shares of SPX Technologies, Inc. $SPXC

TD Asset Management Inc decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 16.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,588 shares of the company’s stock after selling 2,294 shares during the quarter. TD Asset Management Inc’s holdings in SPX Technologies were worth $2,164,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPXC. Vanguard Group Inc. grew its stake in SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after buying an additional 232,436 shares during the last quarter. Invesco Ltd. increased its holdings in SPX Technologies by 22.3% in the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock valued at $194,035,000 after purchasing an additional 210,682 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SPX Technologies by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock valued at $182,211,000 after acquiring an additional 17,735 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of SPX Technologies by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after purchasing an additional 14,941 shares in the last quarter. Finally, Norges Bank bought a new position in SPX Technologies during the second quarter worth about $97,223,000. 92.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SPXC. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $280.00 in a research note on Friday, February 13th. JPMorgan Chase & Co. began coverage on SPX Technologies in a report on Wednesday. They set an “overweight” rating and a $260.00 target price for the company. B. Riley Financial reiterated a “buy” rating and issued a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Finally, Truist Financial increased their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $250.63.

SPX Technologies Stock Up 1.1%

SPX Technologies stock opened at $222.09 on Thursday. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 1.70 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $246.68. The firm has a 50 day moving average price of $219.02 and a two-hundred day moving average price of $205.66.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. During the same period last year, the business posted $1.51 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

SPX Technologies 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.