PDT Partners LLC Has $1.85 Million Holdings in SPX Technologies, Inc. $SPXC

Key Points

• PDT Partners LLC reduced its holdings in SPX Technologies by 20%, selling 3,595 shares and now owns 14,364 shares valued at approximately $1.85 million.
• SPX Technologies reported $1.65 earnings per share for the last quarter, exceeding analysts' expectations of $1.45, alongside a 10.2% year-over-year revenue increase.
• Analysts showed optimism with UBS Group raising their price target for SPX Technologies from $182 to $210, and the consensus rating being an average "Buy".

PDT Partners LLC lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 20.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,364 shares of the company's stock after selling 3,595 shares during the period. PDT Partners LLC's holdings in SPX Technologies were worth $1,850,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SPXC. Northern Trust Corp increased its position in SPX Technologies by 11.7% in the 4th quarter. Northern Trust Corp now owns 538,501 shares of the company's stock valued at $78,363,000 after acquiring an additional 56,221 shares during the period. Schonfeld Strategic Advisors LLC increased its position in SPX Technologies by 178.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,470 shares of the company's stock valued at $942,000 after acquiring an additional 4,146 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in SPX Technologies in the 4th quarter valued at approximately $279,000. Algert Global LLC increased its position in SPX Technologies by 36.4% in the 4th quarter. Algert Global LLC now owns 16,463 shares of the company's stock valued at $2,396,000 after acquiring an additional 4,393 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in SPX Technologies in the 4th quarter valued at approximately $1,321,000. Institutional investors own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several analyst reports. B. Riley initiated coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group lifted their price target on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Oppenheimer lifted their price target on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $195.20.

SPX Technologies Trading Up 0.7%

Shares of SPX Technologies stock traded up $1.24 on Friday, reaching $187.87. 243,021 shares of the company were exchanged, compared to its average volume of 519,286. The stock has a fifty day moving average price of $183.69 and a 200-day moving average price of $157.19. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 42.22, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32. 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 fifty-two week low of $115.00 and a fifty-two week high of $209.38.

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