Algert Global LLC Buys 1,380 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Algert Global LLC increased its stake in SPX Technologies, Inc. by 8.4%, holding 17,843 shares valued at $2,298,000 as of the last reporting period.
• SPX Technologies reported earnings of $1.65 EPS, exceeding the consensus estimate by $0.20, with revenues of $552.40 million for the quarter.
• Stock analysts have a consensus rating of "Buy" for SPX Technologies, with an average target price of $195.20.

Algert Global LLC lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,843 shares of the company's stock after purchasing an additional 1,380 shares during the quarter. Algert Global LLC's holdings in SPX Technologies were worth $2,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in SPX Technologies during the first quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of SPX Technologies in the first quarter valued at $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 valued at $78,000 after buying an additional 410 shares in the last quarter. Farther Finance Advisors LLC increased its position in 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 position in 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. Institutional investors and hedge funds own 92.82% of the company's stock.

Insider Buying and Selling

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the transaction, the director directly owned 33,770 shares in the company, valued at approximately $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 can be accessed through this link. Corporate insiders own 3.32% of the company's stock.

SPX Technologies Price Performance

NYSE:SPXC traded up $2.09 during trading hours on Tuesday, hitting $191.04. The company's stock had a trading volume of 98,854 shares, compared to its average volume of 323,335. The stock has a fifty day simple moving average of $178.65 and a 200-day simple moving average of $154.91. The company has a market capitalization of $8.93 billion, a P/E ratio of 42.92, a PEG ratio of 1.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38.

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 for the quarter, beating the consensus estimate of $1.45 by $0.20. The business had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.SPX Technologies's revenue was up 10.2% compared to the same quarter last year. 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. On average, analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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