Raymond James Financial Inc. Sells 5,644 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Raymond James Financial Inc. reduced its stake in SPX Technologies by 2.5% in the 1st quarter, selling 5,644 shares, and now owns approximately 0.46% of the company's stock worth $27.89 million.
• SPX Technologies reported quarterly earnings of $1.65 EPS, exceeding estimates by $0.20, and showing a 10.2% increase in revenue year-over-year, reaching $552.40 million.
• Analysts have a consensus rating of Buy on SPX Technologies, with a target price averaging $195.20, and Oppenheimer recently raised their price objective to $197.00.

Raymond James Financial Inc. decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 216,573 shares of the company's stock after selling 5,644 shares during the quarter. Raymond James Financial Inc. owned 0.46% of SPX Technologies worth $27,890,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SPXC. NBC Securities Inc. bought a new stake in SPX Technologies in the first quarter valued at about $27,000. Eastern Bank acquired a new position in SPX Technologies in the first quarter valued at about $38,000. Skandinaviska Enskilda Banken AB publ boosted its position in 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 boosted 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 valued at $83,000 after buying an additional 98 shares in the last quarter. Finally, Signaturefd LLC boosted its position in SPX Technologies by 28.2% in the first quarter. Signaturefd LLC now owns 805 shares of the company's stock valued at $104,000 after buying an additional 177 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SPXC shares. Oppenheimer boosted their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded 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 report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target on the stock. Finally, UBS Group boosted their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $195.20.

SPX Technologies Trading Down 2.0%

NYSE SPXC traded down $3.87 during trading hours on Friday, hitting $187.26. The company's stock had a trading volume of 216,556 shares, compared to its average volume of 586,894. The stock has a fifty day moving average of $181.45 and a 200 day moving average of $155.94. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The firm has a market capitalization of $8.76 billion, a P/E ratio of 42.08, a PEG ratio of 1.59 and a beta of 1.27. 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 announced 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. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The business had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same period in the prior year, the business posted $1.42 earnings per share. SPX Technologies's revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

SPX Technologies Company 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.