SPX Technologies, Inc. $SPXC Holdings Lifted by Redhawk Wealth Advisors Inc.

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

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of SPX Technologies during the 1st quarter valued at approximately $890,000. Pacer Advisors Inc. raised its position in shares of SPX Technologies by 80.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,951 shares of the company's stock valued at $251,000 after acquiring an additional 868 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of SPX Technologies by 794.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company's stock valued at $1,819,000 after acquiring an additional 12,546 shares in the last quarter. Bessemer Group Inc. grew its stake 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 buying an additional 6,346 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 buying an additional 98 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded down $3.03 on Friday, hitting $187.45. The company's stock had a trading volume of 846,701 shares, compared to its average volume of 235,183. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 42.12, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. The stock's 50-day moving average is $186.91 and its two-hundred day moving average is $160.26. 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 (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company had revenue of $552.40 million during the quarter, compared to analysts' expectations of $546.03 million. During the same quarter in the prior year, the business posted $1.42 earnings per share. The company's revenue for the quarter 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. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current 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.