25,192 Shares in SPX Technologies, Inc. $SPXC Purchased by Jump Financial LLC

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

A number of other large investors have also recently made changes to their positions in the company. AlphaCore Capital LLC boosted its position 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 during the period. Park Avenue Securities LLC boosted its position 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 during the period. Farther Finance Advisors LLC boosted its position 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 during the period. Private Advisor Group LLC raised its holdings in shares of 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 purchasing an additional 113 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of 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 purchasing an additional 177 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SPXC. UBS Group boosted their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a report on Friday, August 1st. Oppenheimer boosted 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. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, 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 objective for the company. One equities research 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, the stock presently has a consensus rating of "Buy" and a consensus target price of $195.20.

SPX Technologies Price Performance

NYSE:SPXC traded down $3.87 during trading hours on Friday, reaching $187.26. 216,556 shares of the company were exchanged, compared to its average volume of 586,894. The stock's 50-day moving average is $181.45 and its 200-day moving average is $155.94. The firm has a market cap of $8.76 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. The business had revenue of $552.40 million during the quarter, compared to analysts' expectations of $546.03 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period 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. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

SPX Technologies Company 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.