Alliancebernstein L.P. Has $89.13 Million Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Alliancebernstein L.P. reduced its holdings in SPX Technologies by 6.6%, owning approximately $89.13 million worth of the company's stock as of the latest reporting period.
• Analysts have set new price targets for SPX Technologies, with Oppenheimer raising it to $197.00 and UBS Group to $210.00, while maintaining an overall consensus rating of "Buy".
• SPX Technologies reported a quarterly EPS of $1.65, outperforming expectations, with revenues of $552.40 million, a 10.2% increase year-over-year.

Alliancebernstein L.P. lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 692,086 shares of the company's stock after selling 49,057 shares during the period. Alliancebernstein L.P. owned 1.48% of SPX Technologies worth $89,127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of SPX Technologies in the 1st quarter valued at $27,000. Eastern Bank acquired a new position in SPX Technologies during the 1st quarter worth $38,000. SVB Wealth LLC acquired a new position in SPX Technologies during the 1st quarter worth $39,000. Quarry LP acquired a new position in SPX Technologies during the 1st quarter worth $57,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in 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 acquiring an additional 410 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Analysts Set New Price Targets

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

SPX Technologies Stock Up 0.7%

Shares of SPXC opened at $187.87 on Friday. The company has a 50-day simple moving average of $183.69 and a 200-day simple moving average of $157.14. The firm has a market capitalization of $8.78 billion, a P/E ratio of 42.22, a P/E/G ratio of 1.59 and a beta of 1.32. 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, Inc. has a 52 week low of $115.00 and a 52 week high of $209.38.

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

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.

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