Squarepoint Ops LLC Sells 48,409 Shares of SPX Technologies, Inc. $SPXC

Squarepoint Ops LLC reduced its position in SPX Technologies, Inc. (NYSE:SPXC) by 84.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,000 shares of the company’s stock after selling 48,409 shares during the period. Squarepoint Ops LLC’s holdings in SPX Technologies were worth $1,509,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SPXC. Twin Peaks Wealth Advisors LLC bought a new position in SPX Technologies in the second quarter valued at about $31,000. MAI Capital Management lifted its position in SPX Technologies by 80.9% during the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after purchasing an additional 93 shares during the period. SVB Wealth LLC acquired a new position in SPX Technologies during the 1st quarter valued at about $39,000. Quarry LP bought a new position in shares of SPX Technologies in the 1st quarter valued at about $57,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 164 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. TD Cowen assumed coverage on SPX Technologies in a research note on Monday, November 10th. They issued a “hold” rating and a $225.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research report on Monday, December 8th. Bank of America started coverage on SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective for the company. Finally, B. Riley reissued a “buy” rating and issued a $244.00 target price (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.14.

SPX Technologies Stock Performance

SPXC stock opened at $203.91 on Friday. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $233.71. 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 firm has a market cap of $10.16 billion, a PE ratio of 43.66, a P/E/G ratio of 1.98 and a beta of 1.32. The business’s 50-day moving average price is $206.84 and its two-hundred day moving average price is $189.03.

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

Insider Buying and Selling

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’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 sale, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares in the company, valued at approximately $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. 3.32% of the stock is currently owned by corporate insiders.

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.