Emerald Advisers LLC Purchases 18,403 Shares of SPX Technologies, Inc. $SPXC

Emerald Advisers LLC raised its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,507 shares of the company’s stock after buying an additional 18,403 shares during the quarter. Emerald Advisers LLC owned about 0.33% of SPX Technologies worth $28,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in SPX Technologies by 8.1% in the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after purchasing an additional 2,892 shares in the last quarter. AQR Capital Management LLC raised its holdings in SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after buying an additional 8,854 shares during the last quarter. Millennium Management LLC lifted its stake in shares of SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after buying an additional 56,799 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of 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 buying an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of SPX Technologies by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after acquiring an additional 3,353 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was 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 owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This trade represents a 37.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SPXC shares. Truist Financial upped their price objective on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wells Fargo & Company started coverage on SPX Technologies in a research report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price for the company. Finally, Bank of America initiated coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.14.

SPX Technologies Price Performance

NYSE SPXC opened at $221.07 on Thursday. The company has a 50-day moving average price of $210.10 and a 200-day moving average price of $196.86. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $233.71. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $11.02 billion, a P/E ratio of 47.34, a PEG ratio of 1.82 and a beta of 1.33.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data 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. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. During the same quarter last year, the firm posted $1.39 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.