Cwm LLC Has $524,000 Holdings in SPX Technologies, Inc. $SPXC

Cwm LLC boosted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 47.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,125 shares of the company’s stock after buying an additional 1,011 shares during the quarter. Cwm LLC’s holdings in SPX Technologies were worth $524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SPXC. Nuveen LLC acquired a new position in SPX Technologies during the first quarter worth approximately $88,852,000. Champlain Investment Partners LLC bought a new stake in shares of SPX Technologies during the first quarter worth approximately $52,699,000. Van Berkom & Associates Inc. boosted its holdings in shares of SPX Technologies by 3,195.9% during the first 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 during the period. Channing Capital Management LLC boosted its holdings in shares of SPX Technologies by 35.3% during the first quarter. Channing Capital Management LLC now owns 415,393 shares of the company’s stock worth $53,494,000 after acquiring an additional 108,329 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of SPX Technologies during the first quarter worth approximately $9,039,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Trading Up 2.2%

Shares of SPXC stock opened at $194.58 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9.10 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The stock has a 50 day simple moving average of $187.25 and a 200 day simple moving average of $169.50. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business had revenue of $552.40 million during the quarter, compared to analysts’ expectations of $546.03 million. During the same period in the previous year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPXC. Wells Fargo & Company began coverage on SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. Truist Financial began coverage on SPX Technologies in a report on Monday. They set a “hold” rating and a $209.00 price objective for the company. Oppenheimer boosted 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. Bank of America began coverage on SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of SPX Technologies in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.00.

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.