Redhawk Wealth Advisors Inc. Has $3.66 Million Position in SPX Technologies, Inc. $SPXC

Key Points

• Redhawk Wealth Advisors Inc. increased its stake in SPX Technologies by 11.8%, now holding 21,824 shares valued at approximately $3.66 million.
• SPX Technologies reported earnings per share of $1.65 for the last quarter, exceeding consensus estimates of $1.45 by $0.20.
• Equities analysts have raised their ratings and price targets for SPX Technologies, with UBS Group increasing its price objective from $182 to $210, emphasizing a favorable outlook for the stock.

Redhawk Wealth Advisors Inc. grew its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,824 shares of the company's stock after acquiring an additional 2,304 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in SPX Technologies were worth $3,659,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of SPX Technologies during the first quarter worth $890,000. Pacer Advisors Inc. increased its position in SPX Technologies by 80.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,951 shares of the company's stock worth $251,000 after purchasing an additional 868 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in SPX Technologies by 794.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company's stock worth $1,819,000 after purchasing an additional 12,546 shares in the last quarter. Bessemer Group Inc. increased its position in SPX Technologies by 1,544.0% during the 1st quarter. Bessemer Group Inc. now owns 6,757 shares of the company's stock worth $870,000 after purchasing an additional 6,346 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in SPX Technologies by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after purchasing an additional 98 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 0.8%

Shares of NYSE:SPXC traded up $1.50 during midday trading on Monday, hitting $189.54. The company had a trading volume of 63,294 shares, compared to its average volume of 317,844. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 1.60 and a beta of 1.32. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $186.91 and a 200 day simple moving average of $160.55.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Wall Street Analyst Weigh In

SPXC has been the topic of a number of research reports. Oppenheimer raised their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, UBS Group increased their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, SPX Technologies has an average rating of "Buy" and a consensus target price of $195.20.

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.