Schwerin Boyle Capital Management Inc. Has $19.68 Million Stake in SPX Technologies, Inc. $SPXC

Key Points

• Schwerin Boyle Capital Management Inc. decreased its shares in SPX Technologies by 2.6% in Q1, holding 152,830 shares valued at approximately $19.68 million.
• SPX Technologies recently beat earnings expectations with $1.65 EPS and reported quarterly revenue of $552.40 million, a 10.2% increase year-over-year.
• Wall Street analysts are optimistic, with multiple firms giving SPX Technologies a "buy" rating and a consensus target price of $195.20.

Schwerin Boyle Capital Management Inc. cut its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,830 shares of the company's stock after selling 4,070 shares during the period. SPX Technologies makes up 2.0% of Schwerin Boyle Capital Management Inc.'s investment portfolio, making the stock its 15th biggest holding. Schwerin Boyle Capital Management Inc. owned 0.33% of SPX Technologies worth $19,681,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SPXC. Marshall Wace LLP bought a new stake in SPX Technologies in the fourth quarter worth $361,000. Tower Research Capital LLC TRC boosted its holdings in SPX Technologies by 16.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,910 shares of the company's stock valued at $569,000 after acquiring an additional 546 shares during the period. Hsbc Holdings PLC boosted its holdings in 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 acquiring an additional 4,229 shares during the period. Northern Trust Corp boosted its holdings in SPX Technologies by 11.7% during the fourth quarter. Northern Trust Corp now owns 538,501 shares of the company's stock valued at $78,363,000 after acquiring an additional 56,221 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in SPX Technologies by 178.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,470 shares of the company's stock valued at $942,000 after acquiring an additional 4,146 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group upped their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a report on Friday, August 1st. Oppenheimer upped their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, B. Riley assumed coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. 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, the stock has an average rating of "Buy" and a consensus price target of $195.20.

SPX Technologies Stock Performance

Shares of SPXC traded down $3.87 during trading hours on Friday, reaching $187.26. 216,556 shares of the company traded hands, compared to its average volume of 586,894. The stock's fifty day moving average is $181.45 and its 200 day moving average is $155.91. The stock has a market cap of $8.76 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.20. The firm 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 company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts anticipate 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.