Advantage Alpha Capital Partners LP Sells 15,255 Shares of SPX Technologies, Inc. $SPXC

Advantage Alpha Capital Partners LP trimmed its stake in SPX Technologies, Inc. (NYSE:SPXC) by 53.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,537 shares of the company’s stock after selling 15,255 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in SPX Technologies were worth $2,270,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPXC. Cetera Investment Advisers bought a new position in shares of SPX Technologies during the first quarter valued at $694,000. Pacer Advisors Inc. raised its position in SPX Technologies by 80.1% in the first quarter. Pacer Advisors Inc. now owns 1,951 shares of the company’s stock worth $251,000 after acquiring an additional 868 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of SPX Technologies by 211.3% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company’s stock worth $78,000 after purchasing an additional 410 shares in the last quarter. LPL Financial LLC raised its holdings in SPX Technologies by 3.4% in the 1st quarter. LPL Financial LLC now owns 13,363 shares of the company’s stock worth $1,721,000 after purchasing an additional 439 shares during the period. Finally, Federated Hermes Inc. lifted its position in SPX Technologies by 3.0% during the first quarter. Federated Hermes Inc. now owns 109,082 shares of the company’s stock valued at $14,048,000 after purchasing an additional 3,177 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SPXC shares. TD Cowen began coverage on SPX Technologies in a research note on Monday, November 10th. They issued a “hold” rating and a $225.00 price objective on the stock. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. B. Riley reaffirmed a “buy” rating and set a $225.00 price target (up previously from $212.00) on shares of SPX Technologies in a report on Monday, October 27th. UBS Group upped their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Truist Financial assumed coverage on shares of SPX Technologies in a research report on Monday, October 20th. They set a “hold” rating and a $209.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

Insider Activity

In other news, insider John William Swann III sold 38,755 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the transaction, the insider owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. The trade was a 37.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.32% of the stock is owned by insiders.

SPX Technologies Price Performance

SPXC stock opened at $216.18 on Friday. The company has a market capitalization of $10.77 billion, a PE ratio of 48.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The company’s fifty day moving average price is $198.70 and its 200-day moving average price is $182.52. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $233.71. 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 earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million for the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

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.