SPX Technologies, Inc. $SPXC Shares Sold by Amundi

Key Points

• Amundi has reduced its holdings in SPX Technologies, Inc. by 16.5%, selling 4,787 shares during the first quarter, resulting in ownership of 24,264 shares valued at $3,078,000.
• Analyst reports indicate a generally positive outlook for SPX Technologies, with institutions boosting their positions and target price upgrades, including UBS Group raising theirs from $182.00 to $210.00.
• SPX Technologies reported a quarterly earnings data showing an EPS of $1.65, exceeding estimates, with anticipated earnings growth for FY 2025 projected between $6.350 and $6.650 EPS.

Amundi trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 16.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,264 shares of the company's stock after selling 4,787 shares during the quarter. Amundi owned about 0.05% of SPX Technologies worth $3,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in SPX Technologies in the first quarter valued at approximately $27,000. Eastern Bank purchased a new stake in SPX Technologies in the first quarter valued at approximately $38,000. SVB Wealth LLC purchased a new stake in SPX Technologies in the first quarter valued at approximately $39,000. Quarry LP purchased a new stake in SPX Technologies in the first quarter valued at approximately $57,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in SPX Technologies by 211.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock valued at $78,000 after buying an additional 410 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Price Performance

SPXC stock traded up $0.68 on Monday, reaching $187.00. 180,588 shares of the company's stock were exchanged, compared to its average volume of 317,518. The stock has a fifty day moving average of $185.37 and a 200-day moving average of $158.91. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The firm has a market cap of $8.74 billion, a PE ratio of 42.02, a P/E/G ratio of 1.59 and a beta of 1.32. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. SPX Technologies's quarterly revenue was up 10.2% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer boosted their price objective on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, UBS Group upped their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $195.20.

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.