Jump Financial LLC Makes New $3.24 Million Investment in SPX Technologies, Inc. $SPXC

Key Points

• Jump Financial LLC purchased 25,192 shares of SPX Technologies, Inc., valued at approximately $3.24 million, during the first quarter, holding about 0.05% of the firm at that time.
• A significant increase in institutional investment was noted, with Nuveen LLC acquiring a new position worth about $88.85 million and GAMMA Investing LLC boosting its holdings by 25,946.4% in the same quarter.
• SPX Technologies reported earnings of $1.65 per share for the latest quarter, surpassing analysts' expectations, and its revenue increased by 10.2% compared to the prior year.

Jump Financial LLC bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,192 shares of the company's stock, valued at approximately $3,244,000. Jump Financial LLC owned approximately 0.05% of SPX Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of SPX Technologies during the 1st quarter valued at approximately $27,000. Eastern Bank purchased a new position in SPX Technologies during the first quarter worth approximately $38,000. SVB Wealth LLC purchased a new position in SPX Technologies in the first quarter worth approximately $39,000. Skandinaviska Enskilda Banken AB publ grew 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 during the period. Finally, Farther Finance Advisors LLC grew its position in SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SPXC. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group increased their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, August 1st. B. Riley started coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective for the company. Finally, Oppenheimer raised 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 investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $195.20.

SPX Technologies Price Performance

SPXC stock traded down $3.87 on Monday, reaching $187.26. The company had a trading volume of 216,556 shares, compared to its average volume of 560,736. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38. 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 company's fifty day moving average is $182.03 and its 200 day moving average is $156.25. The company has a market cap of $8.76 billion, a P/E ratio of 42.08, a PEG ratio of 1.59 and a beta of 1.32.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same quarter in the prior year, the company earned $1.42 EPS. SPX Technologies's revenue was up 10.2% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share 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.