SPX Technologies, Inc. $SPXC Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 37.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,673 shares of the company’s stock after purchasing an additional 63,174 shares during the period. Assenagon Asset Management S.A. owned 0.50% of SPX Technologies worth $43,272,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SPXC. LPL Financial LLC increased its holdings in shares of SPX Technologies by 3.4% in the first quarter. LPL Financial LLC now owns 13,363 shares of the company’s stock valued at $1,721,000 after purchasing an additional 439 shares during the period. HighTower Advisors LLC lifted its stake in shares of SPX Technologies by 4.1% during the first quarter. HighTower Advisors LLC now owns 7,311 shares of the company’s stock valued at $942,000 after buying an additional 291 shares during the period. Algert Global LLC boosted its holdings in shares of SPX Technologies by 8.4% during the first quarter. Algert Global LLC now owns 17,843 shares of the company’s stock worth $2,298,000 after purchasing an additional 1,380 shares during the last quarter. Northern Trust Corp boosted its stake in SPX Technologies by 1.0% in the 1st quarter. Northern Trust Corp now owns 544,145 shares of the company’s stock worth $70,075,000 after buying an additional 5,644 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in SPX Technologies in the first quarter valued at approximately $2,197,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insider Transactions at SPX Technologies

In other news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the sale, the insider directly owned 64,266 shares in the company, valued at approximately $13,243,294.62. The trade was a 37.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their position. The SEC filing for this sale provides additional information. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Trading Up 1.5%

SPX Technologies stock opened at $210.49 on Friday. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 1.95 and a beta of 1.32. 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 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The company’s fifty day moving average price is $206.47 and its two-hundred day moving average price is $188.69.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The firm had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. During the same quarter last year, the firm posted $1.39 EPS. The company’s revenue was up 22.6% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SPXC. Wells Fargo & Company started coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 price target for the company. Truist Financial lifted their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday. TD Cowen began coverage on shares of SPX Technologies in a research report on Monday, November 10th. They set a “hold” rating and a $225.00 price target for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research report on Monday, December 8th. Finally, Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.14.

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.