SPX Technologies, Inc. (NYSE:SPXC) Short Interest Down 26.9% in December

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

Wall Street Analysts Forecast Growth

SPXC has been the subject of a number of recent analyst reports. Wells Fargo & Company started coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 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. Truist Financial raised their price objective on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Cowen reissued a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Finally, TD Cowen assumed coverage on SPX Technologies in a research note on Monday, November 10th. They set a “hold” rating and a $225.00 price target for the company. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.14.

Insider Buying and Selling

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 stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the sale, the insider owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This trade represents a 37.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider J Randall Data sold 12,000 shares of the stock in a transaction on Thursday, December 11th. The stock was 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 in the company, valued at $8,188,367.40. This represents a 23.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SPX Technologies

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

SPX Technologies Stock Up 1.7%

NYSE:SPXC traded up $3.61 during trading hours on Monday, hitting $217.22. 1,169,676 shares of the stock traded hands, compared to its average volume of 391,801. The firm has a 50 day moving average price of $210.15 and a 200 day moving average price of $196.38. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 1.82 and a beta of 1.33. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week 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.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $574.32 million. During the same quarter in the previous year, the business posted $1.39 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Equities research analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current 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.