Blair William & Co. IL Sells 4,588 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Blair William & Co. IL reduced its stake in SPX Technologies by 3.0%, selling 4,588 shares and holding approximately 0.32% of the company worth $24,961,000 as of its latest SEC filing.
• Various hedge funds, including Conestoga Capital Advisors and Nuveen LLC, have also increased their investments in SPX Technologies, highlighting the growing interest from institutional investors which now own 92.82% of the stock.
• Analysts have mixed views on SPX Technologies, with ratings ranging from "Strong Buy" to "Hold", and a consensus price target of $196.33, influenced by UBS Group's recent price objective increase from $182 to $210.

Blair William & Co. IL cut its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,858 shares of the company's stock after selling 4,588 shares during the quarter. Blair William & Co. IL owned approximately 0.32% of SPX Technologies worth $24,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SPXC. Conestoga Capital Advisors LLC grew its position in shares of SPX Technologies by 1.4% in the 1st 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 last quarter. Nuveen LLC purchased a new stake in SPX Technologies in the first quarter worth $88,852,000. Charles Schwab Investment Management Inc. lifted its stake 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 worth $81,886,000 after acquiring an additional 10,501 shares during the period. Northern Trust Corp boosted its holdings in SPX Technologies by 1.0% in the first quarter. Northern Trust Corp now owns 544,145 shares of the company's stock valued at $70,075,000 after acquiring an additional 5,644 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in SPX Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 514,858 shares of the company's stock valued at $66,305,000 after purchasing an additional 2,505 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SPXC. Wall Street Zen cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. UBS Group raised their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of SPX Technologies in a research report on Wednesday. Bank of America began coverage on SPX Technologies in a research report on Wednesday. They issued a "neutral" rating and a $202.00 target price for the company. Finally, Oppenheimer lifted their price target on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $196.33.

SPX Technologies Trading Down 1.3%

NYSE SPXC opened at $186.06 on Friday. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. 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 stock's fifty day moving average price is $189.51 and its 200-day moving average price is $165.19. The stock has a market cap of $8.70 billion, a P/E ratio of 41.81, a P/E/G ratio of 1.60 and a beta of 1.37.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.