SPX Technologies, Inc. $SPXC Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in SPX Technologies by 1.6%, owning 334,339 shares worth $43 million at the end of Q1.
• UBS Group upgraded SPX Technologies, raising its target price from $182 to $210 and maintaining a "buy" rating, amid a generally positive analyst outlook.
• SPX Technologies reported better-than-expected quarterly earnings of $1.65 per share, exceeding analysts' estimates of $1.45, with a revenue of $552.4 million for the quarter.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,339 shares of the company's stock after selling 5,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.72% of SPX Technologies worth $43,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPXC. AlphaCore Capital LLC increased its stake in SPX Technologies by 3.4% in the first 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 period. Park Avenue Securities LLC boosted its stake in shares of SPX Technologies by 1.9% during the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock valued at $579,000 after acquiring an additional 83 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SPX Technologies by 18.5% in the first 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 raised its position in SPX Technologies by 1.6% in the first 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 period. Finally, Signaturefd LLC lifted its holdings 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 acquiring an additional 177 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

SPX Technologies Trading Up 0.7%

NYSE:SPXC opened at $187.87 on Friday. The firm has a market capitalization of $8.78 billion, a P/E ratio of 42.22, a PEG ratio of 1.60 and a beta of 1.32. 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 one year low of $115.00 and a one year high of $209.38. The company's 50-day simple moving average is $183.69 and its 200 day simple moving average is $157.19.

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 for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $552.40 million for the quarter, compared to analysts' expectations of $546.03 million. During the same period in the previous year, the firm earned $1.42 EPS. The business's quarterly revenue was up 10.2% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts forecast that SPX Technologies, Inc. will post 5.57 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.