Hsbc Holdings PLC Grows Stake in SPX Technologies, Inc. $SPXC

Hsbc Holdings PLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 524.0% in the fourth quarter, Holdings Channel reports. The fund owned 10,596 shares of the company’s stock after acquiring an additional 8,898 shares during the quarter. Hsbc Holdings PLC’s holdings in SPX Technologies were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors bought a new position in SPX Technologies during the fourth quarter valued at $307,494,000. Geode Capital Management LLC grew its holdings in SPX Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after purchasing an additional 63,889 shares during the period. Price T Rowe Associates Inc. MD increased its position in SPX Technologies by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock worth $235,368,000 after buying an additional 84,117 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of SPX Technologies by 0.4% in the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPXC traded up $2.77 during trading on Friday, reaching $219.40. 731,519 shares of the company were exchanged, compared to its average volume of 969,753. The company’s 50-day moving average is $222.10 and its two-hundred day moving average is $216.83. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 42.94, a P/E/G ratio of 1.62 and a beta of 1.27. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a 12-month low of $169.18 and a 12-month high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. During the same quarter in the previous year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Research analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPXC. BMO Capital Markets initiated coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target on the stock. Wells Fargo & Company boosted their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Truist Financial upped their price objective on shares of SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.50.

About SPX Technologies

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.