Intech Investment Management LLC Acquires 9,146 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Intech Investment Management LLC increased its stake in SPX Technologies by 37.6% in the first quarter, now holding 33,443 shares valued at approximately $4.3 million.
• Analysts have raised their price targets for SPX Technologies, with UBS Group increasing its target from $182.00 to $210.00 while maintaining a "buy" rating.
• SPX Technologies reported a quarterly revenue of $552.4 million, exceeding analysts' expectations and reflecting a 10.2% year-over-year growth.

Intech Investment Management LLC grew its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 37.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,443 shares of the company's stock after acquiring an additional 9,146 shares during the period. Intech Investment Management LLC owned 0.07% of SPX Technologies worth $4,307,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bayforest Capital Ltd grew its position in SPX Technologies by 241.2% in the first quarter. Bayforest Capital Ltd now owns 2,320 shares of the company's stock worth $299,000 after acquiring an additional 1,640 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company's stock worth $24,742,000 after buying an additional 3,353 shares during the period. United Services Automobile Association bought a new stake in shares of SPX Technologies during the 1st quarter worth $400,000. Voleon Capital Management LP bought a new stake in shares of SPX Technologies during the 1st quarter worth $1,163,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of SPX Technologies by 794.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company's stock worth $1,819,000 after buying an additional 12,546 shares during the period. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group upped 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. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Oppenheimer lifted their price target on 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 given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $195.20.

SPX Technologies Price Performance

NYSE:SPXC opened at $186.69 on Friday. The stock has a market cap of $8.73 billion, a P/E ratio of 41.95, a PEG ratio of 1.62 and a beta of 1.32. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $209.38. The company has a fifty day moving average price of $185.37 and a 200 day moving average price of $158.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results 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 firm 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 earned $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. Analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current 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.

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