Allianz Asset Management GmbH Purchases Shares of 2,492 SPX Technologies, Inc. $SPXC

Allianz Asset Management GmbH purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,492 shares of the company’s stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPXC. Eastern Bank acquired a new position in SPX Technologies during the first quarter valued at approximately $38,000. SVB Wealth LLC acquired a new position in SPX Technologies during the first quarter valued at approximately $39,000. Quarry LP acquired a new position in SPX Technologies during the first quarter valued at approximately $57,000. Skandinaviska Enskilda Banken AB publ grew its holdings in SPX Technologies by 211.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company’s stock valued at $78,000 after purchasing an additional 410 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SPXC shares. UBS Group increased their price objective on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 1st. B. Riley reissued a “buy” rating on shares of SPX Technologies in a research report on Monday. Oppenheimer increased their price objective on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Truist Financial started coverage on SPX Technologies in a research report on Monday, October 20th. They issued a “hold” rating and a $209.00 price objective for the company. Finally, Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.00.

SPX Technologies Trading Up 0.7%

Shares of SPXC stock opened at $195.30 on Tuesday. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 43.89, a P/E/G ratio of 1.98 and a beta of 1.37. The firm has a fifty day moving average of $187.40 and a 200-day moving average of $170.50. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $209.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data 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 company 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 business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.