Voya Investment Management LLC Acquires 5,602 Shares of SPX Technologies, Inc. $SPXC

Voya Investment Management LLC raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 23.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,380 shares of the company’s stock after acquiring an additional 5,602 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of SPX Technologies worth $3,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPXC. Nuveen LLC bought a new position in SPX Technologies in the first quarter worth about $88,852,000. Champlain Investment Partners LLC purchased a new position in shares of SPX Technologies in the 1st quarter worth approximately $52,699,000. Van Berkom & Associates Inc. raised its stake in shares of SPX Technologies by 3,195.9% during the 1st quarter. Van Berkom & Associates Inc. now owns 368,024 shares of the company’s stock worth $47,394,000 after acquiring an additional 356,858 shares in the last quarter. GAMMA Investing LLC lifted its position in SPX Technologies by 25,946.4% during the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company’s stock valued at $17,845,000 after acquiring an additional 138,035 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in SPX Technologies by 154.1% in the first quarter. Assenagon Asset Management S.A. now owns 189,919 shares of the company’s stock valued at $24,458,000 after acquiring an additional 115,187 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 1.6%

Shares of SPX Technologies stock opened at $187.45 on Friday. The firm has a 50-day simple moving average of $186.91 and a two-hundred day simple moving average of $160.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $209.38. The company has a market cap of $8.77 billion, a P/E ratio of 42.12, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million during 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%.SPX Technologies’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

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