Russell Investments Group Ltd. Has $7.65 Million Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Russell Investments Group Ltd. increased its stake in SPX Technologies by 6.4% during Q1, bringing its ownership to approximately $7.65 million in value.
• Institutional investors and hedge funds collectively own 92.82% of SPX Technologies, reflecting strong confidence in the company's stock.
• Several analysts have raised their price targets for SPX Technologies, with Oppenheimer increasing their target from $170.00 to $197.00 and UBS raising theirs from $182.00 to $210.00.

Russell Investments Group Ltd. grew its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,400 shares of the company's stock after purchasing an additional 3,570 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of SPX Technologies worth $7,650,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. AlphaCore Capital LLC boosted its stake in shares of 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 purchasing an additional 68 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of 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 purchasing an additional 83 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 98 shares during the last quarter. Private Advisor Group LLC boosted its stake 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 during the last quarter. Finally, Signaturefd LLC boosted its stake 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 during the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Up 2.4%

SPXC stock traded up $4.4730 during mid-day trading on Friday, hitting $190.7530. 406,862 shares of the company were exchanged, compared to its average volume of 597,634. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The firm has a market cap of $8.92 billion, a P/E ratio of 42.87, a P/E/G ratio of 1.59 and a beta of 1.27. The firm's 50 day simple moving average is $177.97 and its 200 day simple moving average is $154.62. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the sale, the director directly owned 33,770 shares in the company, valued at $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of 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 raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer lifted their price objective on shares of 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 shares of SPX Technologies in a research note on Thursday, May 15th. They set 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 given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $195.20.

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.