Connor Clark & Lunn Investment Management Ltd. Buys New Stake in SPX Technologies, Inc. $SPXC

Connor Clark & Lunn Investment Management Ltd. acquired a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,908 shares of the company's stock, valued at approximately $761,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. 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. Janus Henderson Group PLC grew its position in SPX Technologies by 3.9% during the 4th quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after purchasing an additional 26,995 shares during the last quarter. Nuveen Asset Management LLC grew its position in SPX Technologies by 1.7% during the 4th quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company's stock worth $102,714,000 after purchasing an additional 11,771 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in SPX Technologies by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company's stock worth $81,886,000 after purchasing an additional 10,501 shares during the last quarter. Finally, First Trust Advisors LP grew its position in SPX Technologies by 54.5% during the 4th quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after purchasing an additional 195,153 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

NYSE SPXC traded down $1.3950 on Wednesday, hitting $186.6050. 390,767 shares of the company's stock traded hands, compared to its average volume of 325,109. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38. The firm's 50-day moving average price is $176.17 and its two-hundred day moving average price is $153.83. The firm has a market capitalization of $8.73 billion, a PE ratio of 41.93, a P/E/G ratio of 1.60 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS for the quarter, beating 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 business had revenue of $552.40 million during the quarter, compared to analysts' expectations of $546.03 million. During the same period in the previous year, the business posted $1.42 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Insider Buying and Selling

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the sale, the director directly owned 33,770 shares in the company, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.32% of the company's stock.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several research analyst reports. Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group boosted their target price on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. B. Riley initiated 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. Finally, Oppenheimer boosted their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock 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 issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price 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.