Tema Etfs LLC Has $6.63 Million Holdings in SPX Technologies, Inc. $SPXC

Tema Etfs LLC lowered its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 35.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 39,520 shares of the company’s stock after selling 21,528 shares during the quarter. SPX Technologies accounts for about 1.8% of Tema Etfs LLC’s investment portfolio, making the stock its 10th largest holding. Tema Etfs LLC’s holdings in SPX Technologies were worth $6,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of SPXC. Invesco Ltd. increased its position in shares of SPX Technologies by 22.3% in the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock worth $194,035,000 after purchasing an additional 210,682 shares during the period. Geode Capital Management LLC grew its stake in SPX Technologies by 1.7% during the second quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock worth $182,211,000 after buying an additional 17,735 shares in the last quarter. Nuveen LLC bought a new position in SPX Technologies in the 1st quarter valued at about $88,852,000. Charles Schwab Investment Management Inc. raised its position in shares of SPX Technologies by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock valued at $109,127,000 after buying an additional 14,941 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $97,223,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Down 0.4%

Shares of SPXC opened at $208.73 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $233.71. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 1.97 and a beta of 1.32. The stock has a fifty day moving average of $201.09 and a 200-day moving average of $184.43.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. The business had revenue of $592.80 million during the quarter, compared to analysts’ expectations 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 firm earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John William Swann III sold 38,755 shares of the firm’s 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 completion of the transaction, the insider 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPXC. Truist Financial initiated coverage on shares of SPX Technologies in a research note on Monday, October 20th. They issued a “hold” rating and a $209.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and issued a $225.00 target price (up previously from $212.00) on shares of SPX Technologies in a report on Monday, October 27th. TD Cowen assumed coverage on SPX Technologies in a report on Monday, November 10th. They set a “hold” rating and a $225.00 price target for the company. Bank of America assumed coverage on SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on SPX Technologies in a research report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price on the stock. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

About SPX Technologies

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.