Strs Ohio Acquires New Stake in SPX Technologies, Inc. $SPXC

Strs Ohio acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,500 shares of the company’s stock, valued at approximately $1,481,000.

Several other hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its holdings in shares of SPX Technologies by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock worth $102,920,000 after buying an additional 11,400 shares during the period. Nuveen LLC purchased a new stake in shares of SPX Technologies during the 1st quarter worth $88,852,000. Charles Schwab Investment Management Inc. lifted its stake in shares of SPX Technologies by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company’s stock worth $81,886,000 after purchasing an additional 10,501 shares during the last quarter. Northern Trust Corp lifted its stake in shares of SPX Technologies by 1.0% during the 1st quarter. Northern Trust Corp now owns 544,145 shares of the company’s stock worth $70,075,000 after purchasing an additional 5,644 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of SPX Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 514,858 shares of the company’s stock worth $66,305,000 after purchasing an additional 2,505 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 0.6%

Shares of SPXC stock opened at $185.88 on Wednesday. The stock’s 50-day simple moving average is $186.02 and its 200-day simple moving average is $159.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The firm has a market capitalization of $8.69 billion, a PE ratio of 41.77, a P/E/G ratio of 1.59 and a beta of 1.32. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $209.38.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPXC. Oppenheimer upped their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. UBS Group upped their target price on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, SPX Technologies currently has an average rating of “Buy” and a consensus price target of $195.20.

SPX Technologies Profile

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.