Dynamic Technology Lab Private Ltd Purchases 12,546 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its holdings in SPX Technologies by 794.1% in Q1, acquiring a total of 14,126 shares valued at approximately $1.82 million.
• Several institutional investors, including Pacer Advisors Inc. and GSA Capital Partners, have also adjusted their positions in SPX Technologies during the same quarter, highlighting a growing interest in the company.
• SPX Technologies reported $1.65 EPS for the last quarter, exceeding analyst estimates, and set FY 2025 guidance of 6.350-6.650 EPS, with analysts predicting an average EPS of 5.57 for the current year.

Dynamic Technology Lab Private Ltd increased its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 794.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,126 shares of the company's stock after purchasing an additional 12,546 shares during the period. Dynamic Technology Lab Private Ltd's holdings in SPX Technologies were worth $1,819,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Petrus Trust Company LTA bought a new stake in shares of SPX Technologies in the 1st quarter worth about $412,000. NewEdge Advisors LLC grew its position in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock worth $80,000 after acquiring an additional 112 shares in the last quarter. Millennium Management LLC increased its stake in SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company's stock worth $10,725,000 after acquiring an additional 56,799 shares during the last quarter. EFG Asset Management North America Corp. raised its position in SPX Technologies by 70.2% during the first quarter. EFG Asset Management North America Corp. now owns 14,542 shares of the company's stock valued at $1,872,000 after purchasing an additional 5,996 shares during the period. Finally, AQR Capital Management LLC raised its position in SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock valued at $2,670,000 after purchasing an additional 8,854 shares during the period. Institutional investors own 92.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPXC. Oppenheimer lifted their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. B. Riley began coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, UBS Group raised 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. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, SPX Technologies has an average rating of "Buy" and an average target price of $195.20.

SPX Technologies Trading Up 1.0%

SPXC stock traded up $1.91 during trading on Wednesday, hitting $187.95. The company had a trading volume of 183,726 shares, compared to its average volume of 319,561. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $209.38. The company has a 50 day simple moving average of $184.75 and a 200-day simple moving average of $158.02. The firm has a market capitalization of $8.79 billion, a P/E ratio of 42.24, a PEG ratio of 1.61 and a beta of 1.32. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.20. The company had revenue of $552.40 million during the quarter, compared to analysts' expectations of $546.03 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal 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.