Signaturefd LLC Has $54,000 Stock Position in SPX Technologies, Inc. $SPXC

Signaturefd LLC lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 60.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 322 shares of the company’s stock after selling 483 shares during the quarter. Signaturefd LLC’s holdings in SPX Technologies were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. Nuveen LLC acquired a new stake in SPX Technologies in the 1st quarter valued at approximately $88,852,000. Champlain Investment Partners LLC acquired a new stake in SPX Technologies in the 1st quarter valued at approximately $52,699,000. Van Berkom & Associates Inc. grew its holdings in SPX Technologies by 3,195.9% in the 1st quarter. Van Berkom & Associates Inc. now owns 368,024 shares of the company’s stock valued at $47,394,000 after buying an additional 356,858 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in SPX Technologies by 154.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 189,919 shares of the company’s stock valued at $24,458,000 after buying an additional 115,187 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in SPX Technologies by 35.3% in the 1st quarter. Channing Capital Management LLC now owns 415,393 shares of the company’s stock valued at $53,494,000 after buying an additional 108,329 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPXC. UBS Group raised their target price on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 1st. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday. Oppenheimer lifted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of SPX Technologies in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $195.20.

SPX Technologies Stock Up 1.3%

Shares of SPX Technologies stock opened at $190.13 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. The business has a fifty day simple moving average of $188.92 and a 200 day simple moving average of $164.14. The stock has a market cap of $8.89 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.20. The firm had revenue of $552.40 million during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

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.