Advisors Asset Management Inc. Has $1.51 Million Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Advisors Asset Management Inc. increased its stake in SPX Technologies, owning 11,694 shares after purchasing an additional 1,676 shares, representing a 16.7% increase in their holdings.
• SPX Technologies' stock was trading at $190.40, showing a significant increase in value over the past months, with a 52-week low of $115.00 and a high of $209.38.
• Analysts have a positive outlook for SPX Technologies, with multiple brokerages issuing "buy" ratings and price targets ranging up to $210.00.

Advisors Asset Management Inc. increased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 16.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,694 shares of the company's stock after purchasing an additional 1,676 shares during the period. Advisors Asset Management Inc.'s holdings in SPX Technologies were worth $1,506,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of SPX Technologies during the 1st quarter worth about $9,039,000. Royal Bank of Canada lifted its position in shares of SPX Technologies by 8.1% during 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 during the last quarter. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of SPX Technologies during the 1st quarter worth about $1,328,000. Quarry LP acquired a new position in shares of SPX Technologies during the 1st quarter worth about $57,000. Finally, Panagora Asset Management Inc. increased its stake in SPX Technologies by 30.5% during the first quarter. Panagora Asset Management Inc. now owns 200,276 shares of the company's stock valued at $25,792,000 after acquiring an additional 46,858 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

Wall Street Analyst Weigh In

SPXC has been the topic of several research reports. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer boosted their price target on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, UBS Group boosted their price target on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One equities 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, SPX Technologies has a consensus rating of "Buy" and a consensus target price of $195.20.

SPX Technologies Price Performance

Shares of SPXC stock traded down $3.56 during trading hours on Friday, hitting $186.69. The company had a trading volume of 234,956 shares, compared to its average volume of 313,083. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 1.62 and a beta of 1.32. The firm's fifty day moving average is $185.37 and its 200 day moving average is $158.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97.

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, beating 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 analyst estimates of $546.03 million. During the same period in the prior year, the company posted $1.42 EPS. The company'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. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

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.