Price T Rowe Associates Inc. MD Grows Stock Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Price T Rowe Associates Inc. increased its position in SPX Technologies, acquiring an additional 2,505 shares to own a total of 514,858 shares valued at approximately $66.3 million.
• Numerous institutional investors, including Hsbc Holdings PLC and Schoenfeld Strategic Advisors LLC, significantly increased their stakes in SPX Technologies during the 4th quarter.
• SPX Technologies reported a quarterly EPS of $1.65, surpassing analysts' estimates of $1.45, and projected earnings guidance of 6.350-6.650 EPS for FY 2025.

Price T Rowe Associates Inc. MD boosted its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 514,858 shares of the company's stock after purchasing an additional 2,505 shares during the period. Price T Rowe Associates Inc. MD owned 1.10% of SPX Technologies worth $66,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its stake in shares of SPX Technologies by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock valued at $102,920,000 after buying an additional 11,400 shares during the period. Janus Henderson Group PLC boosted its holdings in SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock valued at $105,321,000 after acquiring an additional 26,995 shares during the last quarter. Nuveen Asset Management LLC increased its position in SPX Technologies by 1.7% during the 4th quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company's stock valued at $102,714,000 after purchasing an additional 11,771 shares during the period. Nuveen LLC acquired a new stake in SPX Technologies during the 1st quarter valued at approximately $88,852,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in SPX Technologies by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company's stock worth $81,886,000 after purchasing an additional 10,501 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SPXC shares. Oppenheimer lifted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. UBS Group raised their target price on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, B. Riley started coverage on SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, SPX Technologies presently has a consensus rating of "Buy" and a consensus target price of $195.20.

SPX Technologies Stock Down 2.0%

Shares of SPX Technologies stock traded down $3.87 during trading hours on Monday, reaching $187.26. The company's stock had a trading volume of 216,556 shares, compared to its average volume of 560,736. The company has a market capitalization of $8.76 billion, a P/E ratio of 42.08, a P/E/G ratio of 1.59 and a beta of 1.32. The stock's fifty day simple moving average is $182.03 and its two-hundred day simple moving average is $156.25. SPX Technologies, Inc. has a one year low of $115.00 and a one 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.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million during the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.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 posted $1.42 earnings per share. 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.