AlphaQuest LLC Takes Position in SPX Technologies, Inc. $SPXC

Key Points

• AlphaQuest LLC acquired 5,479 shares of SPX Technologies, Inc., valued at approximately $706,000, highlighting increasing institutional investor interest in the company.
• SPX Technologies reported $1.65 EPS for its last quarter, surpassing analysts' expectations and demonstrating a revenue increase of 10.2% compared to the previous year.
• Multiple analysts have issued new price targets for SPX Technologies, with UBS Group raising its price objective to $210.00 and maintaining a "buy" rating on the stock.

AlphaQuest LLC acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,479 shares of the company's stock, valued at approximately $706,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPXC. Nuveen LLC acquired a new position in shares of SPX Technologies in the 1st quarter valued at about $88,852,000. Van Berkom & Associates Inc. increased its position in SPX Technologies by 3,195.9% in the 1st quarter. Van Berkom & Associates Inc. now owns 368,024 shares of the company's stock valued at $47,394,000 after buying an additional 356,858 shares in the last quarter. GAMMA Investing LLC increased its position in SPX Technologies by 25,946.4% in the 1st quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock valued at $17,845,000 after buying an additional 138,035 shares in the last quarter. Assenagon Asset Management S.A. increased its position in SPX Technologies by 154.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 189,919 shares of the company's stock valued at $24,458,000 after buying an additional 115,187 shares in the last quarter. Finally, Channing Capital Management LLC increased its position in SPX Technologies by 35.3% in the 1st quarter. Channing Capital Management LLC now owns 415,393 shares of the company's stock valued at $53,494,000 after buying an additional 108,329 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. B. Riley assumed coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price for the company. Oppenheimer boosted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. UBS Group boosted their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $195.20.

SPX Technologies Stock Performance

Shares of SPXC stock traded down $3.87 during trading on Friday, hitting $187.26. The company's stock had a trading volume of 216,556 shares, compared to its average volume of 586,894. The company has a market cap of $8.76 billion, a PE ratio of 42.08, a P/E/G ratio of 1.59 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $181.45 and a 200-day moving average of $155.94. 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 posted its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS 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 business had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. SPX Technologies'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, research analysts anticipate 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.