Price T Rowe Associates Inc. MD Has $66.31 Million Stock Position 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 raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,858 shares of the company's stock after buying 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.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in SPX Technologies during the first quarter valued at about $27,000. Eastern Bank bought a new position in SPX Technologies during the first quarter valued at about $38,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of 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 purchasing an additional 410 shares during the period. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 98 shares during the period. Finally, Signaturefd LLC increased its stake in shares of SPX Technologies by 28.2% in the first quarter. Signaturefd LLC now owns 805 shares of the company's stock worth $104,000 after purchasing an additional 177 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

SPXC stock traded down $3.87 during trading on Friday, reaching $187.26. 216,556 shares of the stock were exchanged, compared to its average volume of 586,894. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The company has a market capitalization of $8.76 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The stock has a 50 day simple moving average of $181.45 and a 200-day simple moving average of $155.94. 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 (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.20. The business had revenue of $552.40 million for 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 firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.