Bayforest Capital Ltd Has $299,000 Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Bayforest Capital Ltd increased its stake in SPX Technologies by 241.2%, acquiring an additional 1,640 shares, bringing its total holdings to 2,320 shares valued at approximately $299,000.
• Multiple institutional investors have also made significant investments in SPX Technologies during the first quarter, with ownership by institutional investors now reaching 92.82%.
• Analysts have generally upgraded their outlook on SPX Technologies, with UBS Group raising the price target from $182.00 to $210.00 and four analysts assigning a "Buy" rating to the stock, reflecting positive expectations for its performance.

Bayforest Capital Ltd lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 241.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,320 shares of the company's stock after acquiring an additional 1,640 shares during the period. Bayforest Capital Ltd's holdings in SPX Technologies were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC increased its position in SPX Technologies by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock worth $102,920,000 after buying an additional 11,400 shares during the period. Nuveen Asset Management LLC increased its stake in SPX Technologies by 1.7% in the fourth quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company's stock valued at $102,714,000 after purchasing an additional 11,771 shares during the last quarter. Nuveen LLC purchased a new stake in shares of SPX Technologies in the first quarter worth about $88,852,000. Charles Schwab Investment Management Inc. boosted its holdings in SPX Technologies by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company's stock valued at $81,886,000 after purchasing an additional 10,501 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in SPX Technologies by 1.0% during the 1st quarter. Northern Trust Corp now owns 544,145 shares of the company's stock worth $70,075,000 after buying an additional 5,644 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Analyst Ratings Changes

SPXC has been the topic of several recent research reports. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, UBS Group boosted their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $195.20.

SPX Technologies Trading Down 1.0%

Shares of SPXC stock traded down $1.81 during trading hours on Tuesday, reaching $185.15. The company had a trading volume of 29,993 shares, compared to its average volume of 315,873. The company has a 50 day moving average of $185.72 and a 200 day moving average of $159.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 1.59 and a beta of 1.32. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. The company had revenue of $552.40 million for 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 firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS 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.