Petrus Trust Company LTA Makes New Investment in SPX Technologies, Inc. $SPXC

Petrus Trust Company LTA acquired a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,198 shares of the company's stock, valued at approximately $412,000.

A number of other hedge funds have also recently added to or reduced their stakes in SPXC. Mercer Global Advisors Inc. ADV acquired a new position in SPX Technologies in the fourth quarter worth $279,000. BNP Paribas Financial Markets acquired a new position in SPX Technologies in the fourth quarter worth $1,321,000. Bank of America Corp DE boosted its holdings in shares of SPX Technologies by 49.1% during the fourth quarter. Bank of America Corp DE now owns 131,335 shares of the company's stock valued at $19,112,000 after acquiring an additional 43,279 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of SPX Technologies by 19.5% during the fourth quarter. Baird Financial Group Inc. now owns 2,438 shares of the company's stock valued at $355,000 after acquiring an additional 397 shares during the period. Finally, Crestline Management LP acquired a new position in shares of SPX Technologies during the fourth quarter valued at $398,000. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Price Performance

SPXC stock traded down $3.56 during trading on Friday, hitting $186.69. The company had a trading volume of 234,956 shares, compared to its average volume of 313,083. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $185.37 and a 200 day moving average of $158.75. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $209.38. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 1.62 and a beta of 1.32.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.65 EPS 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 firm had revenue of $552.40 million for the quarter, compared to analysts' expectations of $546.03 million. During the same period in the previous year, the business earned $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. As a group, research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. 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. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $195.20.

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.