Dimensional Fund Advisors LP Sells 36,779 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Dimensional Fund Advisors LP has decreased its stake in SPX Technologies by 4% by selling 36,779 shares, bringing its total ownership to approximately 1.91% with a value of $115 million.
• Several institutional investors, including Conestoga Capital Advisors and Janus Henderson Group, have increased their positions in SPX Technologies, collectively owning 92.82% of the company's stock.
• SPX Technologies reported impressive quarterly results with $1.65 earnings per share, surpassing analyst expectations, and set its FY 2025 guidance at between 6.350-6.650 EPS.

Dimensional Fund Advisors LP lessened its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 893,252 shares of the company's stock after selling 36,779 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.91% of SPX Technologies worth $115,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. AlphaCore Capital LLC boosted its stake in SPX Technologies by 3.4% in the 1st quarter. AlphaCore Capital LLC now owns 2,068 shares of the company's stock valued at $266,000 after buying an additional 68 shares in the last quarter. Park Avenue Securities LLC boosted its stake in SPX Technologies by 1.9% in the 1st quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock valued at $579,000 after buying an additional 83 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in SPX Technologies by 18.5% in the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock valued at $83,000 after buying an additional 98 shares in the last quarter. Private Advisor Group LLC boosted its stake in SPX Technologies by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 7,034 shares of the company's stock valued at $906,000 after buying an additional 113 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in SPX Technologies by 28.2% in the 1st quarter. Signaturefd LLC now owns 805 shares of the company's stock valued at $104,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on SPXC shares. Oppenheimer boosted their price target on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. UBS Group boosted their price target on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, August 1st. B. Riley started coverage on SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target on the stock. Finally, Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, SPX Technologies has a consensus rating of "Buy" and an average price target of $195.20.

SPX Technologies Price Performance

Shares of SPXC stock traded down $1.65 during trading hours on Thursday, hitting $190.82. 229,119 shares of the company's stock were exchanged, compared to its average volume of 598,689. The stock's 50-day moving average is $180.80 and its 200-day moving average is $155.67. 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 stock has a market cap of $8.92 billion, a price-to-earnings ratio of 42.88, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping the consensus estimate 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 return on equity of 19.59% and a net margin of 10.27%.The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current year.

About SPX Technologies

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.