Capital Fund Management S.A. Acquires New Position in SPX Technologies, Inc. $SPXC

Key Points

• Capital Fund Management S.A. has acquired a new position in SPX Technologies, purchasing 15,654 shares valued at approximately $2.02 million.
• SPX Technologies' stock price rose by 2.4% after reporting earnings per share of $1.65, exceeding expectations and indicating a 10.2% increase in revenue year-over-year.
• Multiple institutional investors have increased their stakes in SPX Technologies, with institutional ownership now at 92.82% of the company's stock.

Capital Fund Management S.A. purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,654 shares of the company's stock, valued at approximately $2,016,000.

Other large investors have also modified their holdings of the company. AlphaCore Capital LLC increased its holdings in shares of SPX Technologies by 3.4% during 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 period. Park Avenue Securities LLC increased its stake in SPX Technologies by 1.9% during the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock valued at $579,000 after acquiring an additional 83 shares during the period. Farther Finance Advisors LLC lifted its position in shares of SPX Technologies by 18.5% in the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after acquiring an additional 98 shares during the period. Private Advisor Group LLC lifted its position in shares of SPX Technologies by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 7,034 shares of the company's stock worth $906,000 after acquiring an additional 113 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of SPX Technologies by 28.2% during the 1st quarter. Signaturefd LLC now owns 805 shares of the company's stock worth $104,000 after purchasing an additional 177 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Trading Down 2.0%

Shares of NYSE:SPXC traded down $3.87 during midday trading on Friday, reaching $187.26. The company's stock had a trading volume of 216,556 shares, compared to its average volume of 586,894. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $209.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The firm has a 50 day moving average price of $181.45 and a two-hundred day moving average price of $155.94. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 1.59 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results 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 return on equity of 19.59% and a net margin of 10.27%.The firm's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer raised their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. UBS Group boosted their target price on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research note 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, B. Riley began coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $195.20.

SPX Technologies 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.