Conestoga Capital Advisors LLC Sells 4,007 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Conestoga Capital Advisors LLC reduced its holdings in SPX Technologies by 0.5%, selling 4,007 shares, and now holds 795,188 shares worth approximately $133.3 million.
• Recent analyst ratings show a mix of opinions on SPX Technologies, with Bank of America and Wells Fargo giving neutral and overweight ratings respectively, while UBS Group raised its price target significantly to $210.00.
• SPX Technologies reported strong earnings, with $1.65 earnings per share, exceeding estimates, and set its FY 2025 EPS guidance between $6.350 and $6.650.

Conestoga Capital Advisors LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 795,188 shares of the company's stock after selling 4,007 shares during the period. SPX Technologies comprises about 2.0% of Conestoga Capital Advisors LLC's holdings, making the stock its 22nd largest position. Conestoga Capital Advisors LLC owned approximately 1.70% of SPX Technologies worth $133,337,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Eastern Bank bought a new position in shares of SPX Technologies in the first quarter valued at $38,000. SVB Wealth LLC bought a new position in shares of SPX Technologies during the first quarter valued at about $39,000. Quarry LP bought a new position in shares of SPX Technologies during the first quarter valued at about $57,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of SPX Technologies by 211.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock valued at $78,000 after purchasing an additional 410 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock valued at $80,000 after purchasing an additional 112 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPXC has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They set a "neutral" rating and a $202.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They set an "overweight" rating and a $205.00 price target on the stock. Wall Street Zen lowered shares of SPX Technologies from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of SPX Technologies in a report on Wednesday, October 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $197.57.

SPX Technologies Price Performance

SPXC opened at $183.96 on Monday. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 1.88 and a beta of 1.37. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $187.38 and a 200-day moving average price of $167.78. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its 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. The firm had revenue of $552.40 million during the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect 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.

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