SPX Technologies, Inc. $SPXC Stake Boosted by Dynamic Technology Lab Private Ltd

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 grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 794.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,126 shares of the company's stock after buying an additional 12,546 shares during the period. Dynamic Technology Lab Private Ltd's holdings in SPX Technologies were worth $1,819,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Petrus Trust Company LTA purchased a new stake in SPX Technologies during the 1st quarter worth $412,000. NewEdge Advisors LLC boosted its position in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock worth $80,000 after purchasing an additional 112 shares during the period. Millennium Management LLC boosted its position in SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company's stock worth $10,725,000 after purchasing an additional 56,799 shares during the period. EFG Asset Management North America Corp. boosted its position in SPX Technologies by 70.2% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,542 shares of the company's stock worth $1,872,000 after purchasing an additional 5,996 shares during the period. Finally, AQR Capital Management LLC boosted its position in SPX Technologies by 74.5% during the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock worth $2,670,000 after purchasing an additional 8,854 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of research reports. UBS Group upped their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. B. Riley started 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. Finally, Oppenheimer increased 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. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $195.20.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded down $2.69 on Friday, hitting $187.57. The company had a trading volume of 74,418 shares, compared to its average volume of 317,331. The business has a 50-day simple moving average of $185.10 and a 200-day simple moving average of $158.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The company has a market cap of $8.77 billion, a PE ratio of 42.15, a PEG ratio of 1.60 and a beta of 1.32. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted 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 business 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 business's revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

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.