EFG Asset Management North America Corp. Grows Position in SPX Technologies, Inc. $SPXC

EFG Asset Management North America Corp. raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,764 shares of the company’s stock after acquiring an additional 3,682 shares during the quarter. EFG Asset Management North America Corp.’s holdings in SPX Technologies were worth $5,742,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Cullen Frost Bankers Inc. raised its stake in SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of SPX Technologies by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock worth $782,000 after buying an additional 56 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of SPX Technologies by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock valued at $644,000 after buying an additional 63 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of SPX Technologies by 5.9% during the second quarter. GAMMA Investing LLC now owns 1,140 shares of the company’s stock valued at $191,000 after buying an additional 64 shares during the period. Finally, Sage Rhino Capital LLC lifted its stake in shares of SPX Technologies by 5.3% during the third quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock valued at $252,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPXC. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. B. Riley reaffirmed a “buy” rating and issued a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Wells Fargo & Company assumed coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.14.

Insider Buying and Selling

In other SPX Technologies news, 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 completion of the sale, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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. The trade was a 37.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.32% of the company’s stock.

SPX Technologies Price Performance

SPXC stock opened at $215.29 on Tuesday. The company has a market cap of $10.73 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.33. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $210.35 and a two-hundred day moving average price of $197.94. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $233.71.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, topping 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 company had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. During the same period last year, the business posted $1.39 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, research 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.