Tema Etfs LLC Purchases 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 raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 49.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 61,048 shares of the company's stock after purchasing an additional 20,280 shares during the period. SPX Technologies makes up approximately 2.4% of Tema Etfs LLC's portfolio, making the stock its 12th biggest holding. Tema Etfs LLC owned about 0.13% of SPX Technologies worth $7,862,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of SPX Technologies in the first quarter valued at approximately $88,852,000. Champlain Investment Partners LLC bought a new position in shares of SPX Technologies in the first quarter valued at approximately $52,699,000. Van Berkom & Associates Inc. grew its holdings in shares of SPX Technologies by 3,195.9% in the first quarter. Van Berkom & Associates Inc. now owns 368,024 shares of the company's stock valued at $47,394,000 after acquiring an additional 356,858 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of SPX Technologies by 25,946.4% in the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock valued at $17,845,000 after acquiring an additional 138,035 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of SPX Technologies by 154.1% in the first quarter. Assenagon Asset Management S.A. now owns 189,919 shares of the company's stock valued at $24,458,000 after acquiring an additional 115,187 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SPXC. Oppenheimer upped their target price on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. UBS Group upped their target price on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a report on Friday, August 1st. B. Riley began coverage on SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. Finally, Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $195.20.

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded down $2.36 during trading on Tuesday, hitting $184.75. 59,684 shares of the company were exchanged, compared to its average volume of 321,071. The company has a market cap of $8.64 billion, a PE ratio of 41.52, a P/E/G ratio of 1.59 and a beta of 1.32. The stock has a 50 day moving average of $182.03 and a 200 day moving average of $156.25. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week 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.

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 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 analysts' expectations 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 quarter in the prior year, the firm posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts predict 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.