SPX Technologies, Inc. (NYSE:SPXC) Short Interest Update

SPX Technologies, Inc. (NYSE:SPXC) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totaling 961,213 shares, a decline of 26.9% from the December 15th total of 1,315,681 shares. Based on an average daily trading volume, of 1,088,047 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.0% of the shares of the stock are short sold. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,088,047 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America assumed coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price for the company. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company started coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. Truist Financial increased their target price on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $214.14.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider J Randall Data sold 12,000 shares of the business’s 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 sale, the insider owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of SPX Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after acquiring an additional 2,892 shares during the period. AQR Capital Management LLC raised its stake in SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after purchasing an additional 8,854 shares during the period. Millennium Management LLC raised its stake in SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after purchasing an additional 56,799 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after purchasing an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after buying an additional 3,353 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Up 1.7%

SPXC stock traded up $3.61 during midday trading on Friday, hitting $217.22. The stock had a trading volume of 1,169,676 shares, compared to its average volume of 756,712. The company’s 50-day moving average price is $210.31 and its 200 day moving average price is $196.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The firm has a market cap of $10.83 billion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 1.82 and a beta of 1.33. SPX Technologies has a 12-month low of $115.00 and a 12-month high of $233.71.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. The company had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts predict that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

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.