11,200 Shares in SPX Technologies, Inc. $SPXC Bought by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in SPX Technologies, purchasing 11,200 shares valued at approximately $1.88 million during the second quarter.
• A series of analysts have recently boosted their target prices for SPX Technologies, with UBS Group raising the target to $210.00 and Oppenheimer to $197.00, indicating positive sentiment towards the company's future performance.
• SPX Technologies reported $1.65 EPS for the last quarter, exceeding analysts' expectations, and has set a fiscal year 2025 guidance of 6.350-6.650 EPS.

Kingstone Capital Partners Texas LLC acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,200 shares of the company's stock, valued at approximately $1,878,000.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in SPX Technologies in the 1st quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of SPX Technologies during the 1st quarter valued at $38,000. SVB Wealth LLC acquired a new position in SPX Technologies in the 1st quarter valued at approximately $39,000. Quarry LP bought a new position in SPX Technologies during the 1st quarter worth approximately $57,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of SPX Technologies by 211.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock worth $78,000 after buying an additional 410 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Stock Up 1.0%

NYSE SPXC traded up $1.97 on Monday, reaching $190.01. 238,056 shares of the stock traded hands, compared to its average volume of 257,174. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 1.60 and a beta of 1.32. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. The company has a fifty day moving average price of $187.22 and a 200-day moving average price of $160.92.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company had revenue of $552.40 million for the quarter, compared to analysts' expectations of $546.03 million. During the same period in the previous year, the firm posted $1.42 EPS. SPX Technologies's revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group upped their price objective 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. Oppenheimer boosted their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, SPX Technologies has a consensus rating of "Buy" and an average price target of $195.20.

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.