Champlain Investment Partners LLC Invests $52.70 Million in SPX Technologies, Inc. $SPXC

Key Points

• Champlain Investment Partners LLC acquired 409,215 shares of SPX Technologies, valued at approximately $52.7 million, representing about 0.88% of the company's stock.
• Several large investors, including Comerica Bank and Bessemer Group Inc., have significantly increased their positions in SPX Technologies, reflecting growing institutional interest.
• Wall Street analysts are optimistic about SPX Technologies, with multiple firms upgrading their ratings and raising price targets, indicating an average price target of $195.20 for the stock.

Champlain Investment Partners LLC bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 409,215 shares of the company's stock, valued at approximately $52,699,000. Champlain Investment Partners LLC owned approximately 0.88% of SPX Technologies at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Comerica Bank increased its holdings in shares of SPX Technologies by 9.8% during the 1st quarter. Comerica Bank now owns 94,739 shares of the company's stock valued at $12,200,000 after purchasing an additional 8,472 shares in the last quarter. Jump Financial LLC purchased a new position in shares of SPX Technologies during the 1st quarter valued at approximately $3,244,000. SVB Wealth LLC purchased a new position in shares of SPX Technologies during the 1st quarter valued at approximately $39,000. AlphaQuest LLC purchased a new position in shares of SPX Technologies during the 1st quarter valued at approximately $706,000. Finally, Advantage Alpha Capital Partners LP purchased a new position in shares of SPX Technologies during the 1st quarter valued at approximately $3,708,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded down $3.87 on Friday, hitting $187.26. 216,556 shares of the company were exchanged, compared to its average volume of 586,894. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38. 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 stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 42.08, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a 50-day moving average price of $181.45 and a 200 day moving average price of $155.94.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SPXC shares. Oppenheimer boosted their price target 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. B. Riley started coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, 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 report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, SPX Technologies has a consensus rating of "Buy" and a consensus 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.