Tema Etfs LLC Acquires 20,280 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Tema Etfs LLC has increased its stake in SPX Technologies by 49.7%, now owning 61,048 shares worth approximately $7.86 million, making it the 12th largest position in their portfolio.
• Wall Street analysts are optimistic about SPX Technologies, with a consensus rating of "Buy" and an average price target of $195.20, following recent ratings upgrades from firms like UBS and Oppenheimer.
• In its latest earnings report, SPX Technologies exceeded analysts' expectations by posting $1.65 EPS, with revenue increasing 10.2% year-over-year to $552.4 million.

Tema Etfs LLC increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 49.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,048 shares of the company's stock after acquiring an additional 20,280 shares during the period. SPX Technologies comprises 2.4% of Tema Etfs LLC's holdings, making the stock its 12th largest holding. Tema Etfs LLC owned approximately 0.13% of SPX Technologies worth $7,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPXC. NBC Securities Inc. bought a new position in SPX Technologies in the 1st quarter valued at approximately $27,000. Eastern Bank bought a new position in SPX Technologies in the 1st quarter valued at approximately $38,000. SVB Wealth LLC bought a new position in SPX Technologies in the 1st quarter valued at approximately $39,000. Skandinaviska Enskilda Banken AB publ lifted its stake in SPX Technologies by 211.3% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock valued at $78,000 after purchasing an additional 410 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in SPX Technologies by 18.5% in the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock valued at $83,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Down 2.0%

Shares of SPX Technologies stock traded down $3.87 during trading on Friday, reaching $187.26. 216,556 shares of the company traded hands, compared to its average volume of 586,894. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38. The company has a 50 day moving average price of $181.45 and a 200-day moving average price of $155.94. The firm has a market capitalization of $8.76 billion, a PE ratio of 42.08, a P/E/G ratio of 1.59 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. During the same quarter in the previous year, the company earned $1.42 EPS. SPX Technologies's quarterly 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. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of analyst reports. UBS Group upped their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, August 1st. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. Oppenheimer upped their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research 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, SPX Technologies presently has a consensus rating of "Buy" and a consensus price target 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.