Sandhill Capital Partners LLC Sells 3,876 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Sandhill Capital Partners LLC reduced its holdings in SPX Technologies by 1.4%, now owning 282,124 shares valued at approximately $36.3 million.
• Analysts have increased target prices for SPX Technologies, with UBS raising its target from $182 to $210 and Oppenheimer increasing from $170 to $197.
• SPX Technologies reported a quarterly earnings per share of $1.65, exceeding estimates, and has set FY 2025 guidance of 6.350-6.650 EPS.

Sandhill Capital Partners LLC cut its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,124 shares of the company's stock after selling 3,876 shares during the period. SPX Technologies makes up 3.0% of Sandhill Capital Partners LLC's portfolio, making the stock its 17th biggest position. Sandhill Capital Partners LLC owned about 0.60% of SPX Technologies worth $36,332,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Comerica Bank boosted its position in shares of SPX Technologies by 25.4% during the fourth quarter. Comerica Bank now owns 86,267 shares of the company's stock valued at $12,554,000 after buying an additional 17,472 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SPX Technologies during the first quarter valued at $890,000. Pacer Advisors Inc. boosted its position in shares of SPX Technologies by 80.1% during the first quarter. Pacer Advisors Inc. now owns 1,951 shares of the company's stock valued at $251,000 after buying an additional 868 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of SPX Technologies by 61.4% during the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after buying an additional 4,229 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of SPX Technologies by 1,544.0% during the first quarter. Bessemer Group Inc. now owns 6,757 shares of the company's stock valued at $870,000 after buying an additional 6,346 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. B. Riley initiated coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. UBS Group raised their target price on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Oppenheimer raised their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $195.20.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the transaction, the director directly owned 33,770 shares of the company's stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is currently owned by insiders.

SPX Technologies Stock Performance

Shares of SPXC stock traded up $4.4730 during trading hours on Friday, reaching $190.7530. 406,862 shares of the company traded hands, compared to its average volume of 597,634. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $209.38. 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 $8.92 billion, a P/E ratio of 42.87, a P/E/G ratio of 1.59 and a beta of 1.27. The firm has a 50-day moving average price of $177.97 and a 200 day moving average price of $154.63.

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, sell-side analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share 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.