Versor Investments LP Acquires New Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Versor Investments LP has acquired 4,264 shares of SPX Technologies, valued at approximately $549,000, during the first quarter of 2023.
• Several large investors, including Conestoga Capital Advisors LLC and Janus Henderson Group PLC, have increased their stakes in SPX Technologies, which now has 92.82% of its stock owned by institutional investors.
• Analysts have shown positive sentiment towards SPX Technologies, with UBS Group raising the stock's price target from $182.00 to $210.00 and giving it a "buy" rating, while the current average rating remains a "buy" with a consensus target price of $195.20.

Versor Investments LP acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,264 shares of the company's stock, valued at approximately $549,000.

A number of other institutional investors have also recently added to or reduced their stakes in SPXC. Nuveen LLC bought a new position in SPX Technologies during the 1st quarter worth $88,852,000. Van Berkom & Associates Inc. grew its stake in SPX Technologies by 3,195.9% during the 1st quarter. Van Berkom & Associates Inc. now owns 368,024 shares of the company's stock worth $47,394,000 after buying an additional 356,858 shares during the last quarter. First Trust Advisors LP grew its stake in shares of SPX Technologies by 54.5% in the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after purchasing an additional 195,153 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of SPX Technologies by 25,946.4% in the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock worth $17,845,000 after purchasing an additional 138,035 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of SPX Technologies by 154.1% in the first quarter. Assenagon Asset Management S.A. now owns 189,919 shares of the company's stock worth $24,458,000 after purchasing an additional 115,187 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the sale, the director directly owned 33,770 shares of the company's stock, valued at $5,167,147.70. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is owned by company insiders.

SPX Technologies Trading Up 2.4%

Shares of NYSE SPXC traded up $4.4730 during mid-day trading on Friday, hitting $190.7530. 406,862 shares of the company traded hands, compared to its average volume of 597,634. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 42.87, a PEG ratio of 1.59 and a beta of 1.27. 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 business has a 50 day moving average of $177.97 and a two-hundred day moving average of $154.62.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced 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. The firm had revenue of $552.40 million during the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group increased their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Oppenheimer increased their price target on 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 initiated coverage on SPX Technologies in a research note on Thursday, May 15th. They set a "buy" rating and a $195.00 target price for the company. Finally, Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $195.20.

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.