Hsbc Holdings PLC Buys 8,898 Shares of SPX Technologies, Inc. $SPXC

Key Points

• HSBC Holdings PLC increased its stake in SPX Technologies by 524% in the fourth quarter, buying 8,898 additional shares and bringing its total holding to 10,596 shares worth about $2.13 million.
• Institutional interest in SPX Technologies remains strong, with 92.82% of the stock owned by institutional investors and several other funds also adding significant positions recently.
• SPX Technologies reported better-than-expected quarterly results, posting EPS of $1.69 versus $1.55 expected and revenue of $566.8 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $254.50.

Hsbc Holdings PLC boosted its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 524.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,596 shares of the company's stock after purchasing 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 SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors bought a new stake in SPX Technologies in the 4th quarter valued at about $307,494,000. Invesco Ltd. boosted its holdings in SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock worth $351,000,000 after acquiring an additional 722,039 shares in the last quarter. Norges Bank bought a new position in SPX Technologies in the fourth quarter worth approximately $123,721,000. ArrowMark Colorado Holdings LLC acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $34,898,000. Finally, HRT Financial LP acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $31,218,000. 92.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPXC. B. Riley Financial restated a "buy" rating on shares of SPX Technologies in a report on Friday, May 1st. Wolfe Research reissued an "outperform" rating and issued a $266.00 price target on shares of SPX Technologies in a research report on Thursday. Weiss Ratings restated a "buy (b-)" rating on shares of SPX Technologies in a research note on Wednesday. BMO Capital Markets started coverage on shares of SPX Technologies in a research note on Friday, March 27th. They issued an "outperform" rating and a $243.00 price objective on the stock. Finally, Wall Street Zen cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.50.

SPX Technologies Stock Up 1.3%

SPXC stock traded up $2.77 during trading on Friday, reaching $219.40. The stock had a trading volume of 731,519 shares, compared to its average volume of 969,753. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization 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. SPX Technologies, Inc. has a one year low of $169.18 and a one year high of $251.08. The company's 50 day moving average is $222.10 and its two-hundred day moving average is $216.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to analysts' expectations of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities research analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current year.

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.

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