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 holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 893,252 shares of the company's stock after selling 36,779 shares during the period. Dimensional Fund Advisors LP owned approximately 1.91% of SPX Technologies worth $115,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPXC. Marshall Wace LLP purchased a new position in shares of SPX Technologies in the 4th quarter worth approximately $361,000. MetLife Investment Management LLC boosted its stake in shares of SPX Technologies by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 27,069 shares of the company's stock worth $3,939,000 after buying an additional 1,531 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of SPX Technologies by 16.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,910 shares of the company's stock worth $569,000 after buying an additional 546 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of SPX Technologies by 61.4% in the 4th quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock worth $1,620,000 after buying an additional 4,229 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of SPX Technologies by 11.7% during the 4th quarter. Northern Trust Corp now owns 538,501 shares of the company's stock worth $78,363,000 after purchasing an additional 56,221 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Insiders Place Their Bets

In related 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 value of $1,043,987.23. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

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

SPX Technologies Stock Performance

SPX Technologies stock traded up $0.41 during mid-day trading on Wednesday, reaching $192.46. The company's stock had a trading volume of 125,070 shares, compared to its average volume of 323,192. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $209.38. The company has a market capitalization of $9.00 billion, a P/E ratio of 43.19, a PEG ratio of 1.61 and a beta of 1.27. 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's fifty day moving average price is $179.38 and its two-hundred day moving average price is $155.17.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $546.03 million. During the same period in the previous year, the business earned $1.42 EPS. SPX Technologies's 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. Sell-side analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

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.