10,312 Shares in SPX Technologies, Inc. $SPXC Purchased by Ewing Morris & Co. Investment Partners Ltd.

Key Points

• Ewing Morris & Co. Investment Partners Ltd. has invested approximately $1.33 million in SPX Technologies by acquiring over 10,300 shares during the first quarter.
• Institutional investors own 92.82% of SPX Technologies, indicating strong institutional interest, with significant stakes acquired by Nuveen LLC and GAMMA Investing LLC.
• SPX Technologies reported better-than-expected earnings of $1.65 per share for the last quarter, exceeding analyst predictions, along with a revenue increase of 10.2% year-over-year.

Ewing Morris & Co. Investment Partners 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 filing with the Securities & Exchange Commission. The institutional investor acquired 10,312 shares of the company's stock, valued at approximately $1,328,000.

A number of other institutional investors have also recently modified their holdings of the business. NBC Securities Inc. purchased a new stake in shares of SPX Technologies in the first quarter valued at about $27,000. Eastern Bank purchased a new stake in SPX Technologies in the first quarter valued at approximately $38,000. SVB Wealth LLC acquired a new position in SPX Technologies in the 1st quarter valued at about $39,000. Quarry LP purchased a new position in SPX Technologies in the 1st quarter valued at $57,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in SPX Technologies by 211.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock worth $78,000 after acquiring an additional 410 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

Shares of SPXC stock traded down $1.35 during trading on Wednesday, hitting $182.77. The company had a trading volume of 257,293 shares, compared to its average volume of 538,004. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $209.38. The firm has a market capitalization of $8.55 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. The stock's 50-day moving average price is $182.89 and its 200 day moving average price is $156.62.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data 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. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company had revenue of $552.40 million during the quarter, compared to analysts' expectations of $546.03 million. During the same period in the prior year, the company posted $1.42 earnings per share. SPX Technologies's revenue for the quarter 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. Equities analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SPXC shares. B. Riley assumed 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 on the stock. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer lifted their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, UBS Group lifted their target price on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One investment 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 an average rating of "Buy" and an average price target of $195.20.

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.