AE Wealth Management LLC Sells 242 Shares of SPX Technologies, Inc. $SPXC

AE Wealth Management LLC reduced its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 11.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,846 shares of the company’s stock after selling 242 shares during the quarter. AE Wealth Management LLC’s holdings in SPX Technologies were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in SPX Technologies during the first quarter worth $890,000. Allspring Global Investments Holdings LLC bought a new position in shares of SPX Technologies during the second quarter worth approximately $218,000. Dynamic Technology Lab Private Ltd lifted its position in shares of SPX Technologies by 794.1% during 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 bought a new stake in SPX Technologies during the second quarter worth about $1,878,000. Finally, Nicholas Company Inc. bought a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $3,322,000. 92.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group raised their price objective on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 1st. B. Riley restated a “buy” rating and issued a $225.00 price objective (up from $212.00) on shares of SPX Technologies in a report on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a report on Thursday. Wells Fargo & Company initiated coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price on the stock. Finally, Bank of America assumed coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.22.

SPX Technologies Stock Performance

Shares of NYSE:SPXC opened at $211.24 on Monday. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The company has a 50-day moving average price of $194.81 and a 200-day moving average price of $179.06. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $233.71. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. The business had revenue of $592.80 million during the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current 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.