Simeon … was righteous and devout: This is like Zechariah and Elizabeth (1:6). They represent the faithful people of Israel who were waiting for God's salvation (Isaiah 10:20–22). Some think Simeon was a priest, but the text only says he was a devout man in Jerusalem.
He was waiting for the consolation of Israel: This refers to Isaiah 40:1, which promised "comfort" to Israel after returning from exile in Babylon.
the Holy Spirit was upon him: See study note on Luke 1:41.