GAMMA Investing LLC Boosts Position in SPX Technologies, Inc. $SPXC

GAMMA Investing LLC boosted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 5.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,140 shares of the company’s stock after purchasing an additional 64 shares during the quarter. GAMMA Investing LLC’s holdings in SPX Technologies were worth $191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Investments LP grew its position in shares of SPX Technologies by 90.8% in the 4th quarter. Two Sigma Investments LP now owns 13,607 shares of the company’s stock valued at $1,980,000 after buying an additional 6,475 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in SPX Technologies in the fourth quarter valued at $5,209,000. Rhumbline Advisers boosted its stake in SPX Technologies by 1.2% in the first quarter. Rhumbline Advisers now owns 122,728 shares of the company’s stock valued at $15,805,000 after acquiring an additional 1,468 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of SPX Technologies during the first quarter worth about $27,000. Finally, Yarbrough Capital LLC increased its position in shares of SPX Technologies by 34.3% during the first quarter. Yarbrough Capital LLC now owns 9,495 shares of the company’s stock worth $1,223,000 after purchasing an additional 2,423 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $183.21 on Monday. The stock’s 50-day moving average price is $187.86 and its 200 day moving average price is $162.35. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $8.57 billion, a PE ratio of 41.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.32. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $209.38.

SPX Technologies (NYSE:SPXC) last announced its 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 company had revenue of $552.40 million for the quarter, compared to the consensus estimate 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 last year, the business posted $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of research analyst reports. 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 price objective on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Oppenheimer raised their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock 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 issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price 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.