Farther Finance Advisors LLC Sells 83 Shares of SPX Technologies, Inc. $SPXC

Farther Finance Advisors LLC decreased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 545 shares of the company’s stock after selling 83 shares during the quarter. Farther Finance Advisors LLC’s holdings in SPX Technologies were worth $91,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaCore Capital LLC boosted its stake in SPX Technologies by 3.4% during the 1st quarter. AlphaCore Capital LLC now owns 2,068 shares of the company’s stock worth $266,000 after acquiring an additional 68 shares during the last quarter. Park Avenue Securities LLC boosted its stake in SPX Technologies by 1.9% during the 1st quarter. Park Avenue Securities LLC now owns 4,497 shares of the company’s stock worth $579,000 after acquiring an additional 83 shares during the last quarter. NewEdge Advisors LLC boosted its stake in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after acquiring an additional 112 shares during the last quarter. Private Advisor Group LLC boosted its stake in SPX Technologies by 1.6% during the 1st quarter. Private Advisor Group LLC now owns 7,034 shares of the company’s stock worth $906,000 after acquiring an additional 113 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in SPX Technologies by 1.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,521 shares of the company’s stock worth $1,596,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $190.13 on Friday. The company’s fifty day simple moving average is $188.92 and its 200-day simple moving average is $163.94. 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 firm has a market cap of $8.89 billion, a PE ratio of 42.72, a P/E/G ratio of 1.62 and a beta of 1.37. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping 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 net margin of 10.27% and a return on equity of 19.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPXC. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SPX Technologies in a research note on Saturday, September 27th. Oppenheimer lifted their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Finally, UBS Group lifted their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Buy” and an average 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.