Allspring Global Investments Holdings LLC Makes New Investment in SPX Technologies, Inc. $SPXC

Allspring Global Investments Holdings LLC acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,291 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds also recently modified their holdings of SPXC. GSA Capital Partners LLP acquired a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $890,000. Dynamic Technology Lab Private Ltd raised its position in shares of SPX Technologies by 794.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company’s stock valued at $1,819,000 after acquiring an additional 12,546 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at approximately $1,878,000. GAMMA Investing LLC raised its position in shares of SPX Technologies by 5.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,140 shares of the company’s stock valued at $191,000 after acquiring an additional 64 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of SPX Technologies by 80.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,951 shares of the company’s stock valued at $251,000 after acquiring an additional 868 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

NYSE:SPXC opened at $194.58 on Friday. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38. 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 firm has a fifty day simple moving average of $187.25 and a 200 day simple moving average of $169.83. The stock has a market capitalization of $9.10 billion, a PE ratio of 43.73, a P/E/G ratio of 1.98 and a beta of 1.37.

SPX Technologies (NYSE:SPXC) last released 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. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The firm 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 business posted $1.42 earnings per share. The company’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 expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPXC has been the topic of several research analyst reports. Truist Financial initiated coverage on shares of SPX Technologies in a report on Monday, October 20th. They set a “hold” rating and a $209.00 target price on the stock. Bank of America initiated coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price on the stock. 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 report on Tuesday, July 8th. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, UBS Group lifted their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.00.

SPX Technologies Company 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.