Coldstream Capital Management Inc. Boosts Holdings in SPX Technologies, Inc. $SPXC

Coldstream Capital Management Inc. grew its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 60.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,138 shares of the company’s stock after purchasing an additional 1,179 shares during the period. Coldstream Capital Management Inc.’s holdings in SPX Technologies were worth $526,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new stake in SPX Technologies during the first quarter valued at $88,852,000. Champlain Investment Partners LLC purchased a new stake in shares of SPX Technologies in the 1st quarter valued at about $52,699,000. Channing Capital Management LLC boosted its position in shares of SPX Technologies by 35.3% during the 1st quarter. Channing Capital Management LLC now owns 415,393 shares of the company’s stock valued at $53,494,000 after acquiring an additional 108,329 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of SPX Technologies by 33.3% during the second quarter. Franklin Resources Inc. now owns 301,284 shares of the company’s stock worth $50,519,000 after purchasing an additional 75,263 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of SPX Technologies in the first quarter worth approximately $9,039,000. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of research reports. UBS Group boosted their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Truist Financial assumed coverage on shares of SPX Technologies in a report on Monday, October 20th. They set a “hold” rating and a $209.00 price objective for the company. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research note 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 research note on Monday, October 27th. Finally, Wells Fargo & Company started coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of the company’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 completion of the transaction, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This represents a 37.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.32% of the stock is currently owned by corporate insiders.

SPX Technologies Trading Up 0.2%

NYSE:SPXC opened at $216.18 on Friday. The firm has a market capitalization of $10.77 billion, a P/E ratio of 48.58, a P/E/G ratio of 2.06 and a beta of 1.36. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $198.70 and a 200 day moving average of $182.52. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $233.71.

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

SPX Technologies 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.