Vanguard Group Holds 15.3% Stake in SPX Technologies

TL;DR

**Vanguard still owns 15.3% of SPX Technologies, a slight update to their passive stake.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in SPX Technologies Inc. As of December 29, 2023, Vanguard holds 6,560,983 shares of SPX Technologies' Common Stock, representing 15.3% of the company. This is an update to their previous filing, indicating a slight adjustment in their passive ownership stake. For investors, this means a significant institutional holder maintains a substantial, albeit passive, interest in SPX Technologies, which can provide a degree of stability but doesn't signal any active management changes.

Why It Matters

This filing confirms that a major institutional investor, The Vanguard Group, continues to hold a significant passive stake in SPX Technologies, which can influence stock stability and investor confidence.

Risk Assessment

Risk Level: low — This filing represents a routine update from a passive institutional investor and does not indicate any immediate risks or significant changes in company control.

Analyst Insight

Investors should note that a major institutional holder like Vanguard maintains a substantial, passive stake, which suggests long-term confidence but no immediate catalysts for price movement from this specific filing.

Key Numbers

• 6,560,983 — Shares Beneficially Owned (The total number of Common Stock shares of SPX Technologies Inc. held by The Vanguard Group as of December 29, 2023.)
• 15.3% — Percentage of Class (The percentage of SPX Technologies Inc. Common Stock beneficially owned by The Vanguard Group, indicating a significant passive stake.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• SPX Technologies Inc (company) — subject company whose securities are being reported
• 6,560,983 (dollar_amount) — number of shares beneficially owned by The Vanguard Group
• 15.3% (dollar_amount) — percentage of class beneficially owned by The Vanguard Group
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• The Vanguard Group will maintain a significant, passive ownership stake in SPX Technologies Inc. (The Vanguard Group) — high confidence, target: Next 12-18 months

FAQ

Filing Documents

• tv01977-spxtechnologiesinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021994.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: SPX Technologies Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 6325 Ardrey Kell Road, Suite 400 Charlotte, NC 28277

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 78473E103

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR