Axiom Investors LLC DE Sells 68,871 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Axiom Investors LLC DE reduced its position in SPX Technologies by 61.9% in the first quarter, ending with 42,418 shares valued at approximately $5.46 million.
• SPX Technologies recently received multiple analyst upgrades, with Wall Street Zen upgrading the stock from "hold" to "buy" and other brokerages increasing their price targets.
• SPX Technologies reported $1.65 EPS for its last quarter, exceeding expectations, with a year-over-year revenue growth of 10.2% to $552.40 million.

Axiom Investors LLC DE lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 61.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,418 shares of the company's stock after selling 68,871 shares during the quarter. Axiom Investors LLC DE owned 0.09% of SPX Technologies worth $5,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaCore Capital LLC grew its holdings in shares of SPX Technologies by 3.4% in the 1st quarter. AlphaCore Capital LLC now owns 2,068 shares of the company's stock worth $266,000 after purchasing an additional 68 shares during the last quarter. Park Avenue Securities LLC lifted its position in SPX Technologies by 1.9% during the 1st quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock valued at $579,000 after purchasing an additional 83 shares during the period. Farther Finance Advisors LLC lifted its position in SPX Technologies by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock valued at $83,000 after purchasing an additional 98 shares during the period. NewEdge Advisors LLC lifted its position in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock valued at $80,000 after purchasing an additional 112 shares during the period. Finally, Private Advisor Group LLC lifted its position in SPX Technologies by 1.6% during the 1st quarter. Private Advisor Group LLC now owns 7,034 shares of the company's stock valued at $906,000 after purchasing an additional 113 shares during the period. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Down 1.9%

Shares of SPXC traded down $3.56 during mid-day trading on Friday, hitting $186.69. 230,572 shares of the company's stock were exchanged, compared to its average volume of 318,280. The company has a market cap of $8.73 billion, a PE ratio of 41.95, a P/E/G ratio of 1.60 and a beta of 1.32. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $209.38. The company has a 50-day simple moving average of $185.10 and a 200 day simple moving average of $158.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPXC. B. Riley began 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 on the stock. UBS Group increased their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Oppenheimer increased their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, SPX Technologies has a consensus rating of "Buy" and an average 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.