Advantage Alpha Capital Partners LP Purchases Shares of 28,792 SPX Technologies, Inc. $SPXC

Key Points

• Advantage Alpha Capital Partners LP purchased 28,792 shares of SPX Technologies, Inc. for approximately $3.7 million, representing about 0.06% ownership of the company.
• Analysts have generally issued a "Buy" rating for SPX Technologies, with a consensus price target of $195.20 after upgrades from firms like UBS Group and Oppenheimer.
• SPX Technologies reported earnings of $1.65 per share in their most recent quarter, exceeding estimates and demonstrating a revenue increase of 10.2% compared to the same period last year.

Advantage Alpha Capital Partners LP purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,792 shares of the company's stock, valued at approximately $3,708,000. Advantage Alpha Capital Partners LP owned approximately 0.06% of SPX Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPXC. XTX Topco Ltd increased its stake in SPX Technologies by 77.7% during the 4th quarter. XTX Topco Ltd now owns 2,376 shares of the company's stock valued at $346,000 after purchasing an additional 1,039 shares in the last quarter. Marshall Wace LLP bought a new stake in SPX Technologies during the 4th quarter valued at $361,000. MetLife Investment Management LLC increased its stake in SPX Technologies by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 27,069 shares of the company's stock valued at $3,939,000 after purchasing an additional 1,531 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in SPX Technologies by 16.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,910 shares of the company's stock valued at $569,000 after purchasing an additional 546 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in SPX Technologies by 61.4% during the 4th quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after purchasing an additional 4,229 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

NYSE SPXC traded up $0.19 during trading on Wednesday, hitting $192.24. 102,275 shares of the company's stock traded hands, compared to its average volume of 323,009. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 43.20, a PEG ratio of 1.61 and a beta of 1.27. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $209.38. 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 business has a 50 day moving average of $179.38 and a 200-day moving average of $155.17.

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

Analysts Set New Price Targets

A number of brokerages have commented on SPXC. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer upped their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. B. Riley began coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price for the company. Finally, UBS Group upped their target price 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. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $195.20.

Insider Buying and Selling at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the transaction, the director directly owned 33,770 shares in the company, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.32% of the company's stock.

About SPX Technologies

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.