Thurston Springer Miller Herd & Titak Inc. Takes Position in SPX Technologies, Inc. $SPXC

Key Points

• Thurston Springer Miller Herd & Titak Inc. acquired a new position in SPX Technologies, purchasing 6,761 shares valued at approximately $1.13 million in the second quarter.
• SPX Technologies reported earnings of $1.65 per share, surpassing analysts' expectations of $1.45, with quarterly revenue of $552.4 million, a year-over-year increase of 10.2%.
• Analysts have upgraded SPX Technologies, with target prices ranging from $197 to $210, reflecting a generally positive outlook for the stock, which currently holds an average rating of "Buy."

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,761 shares of the company's stock, valued at approximately $1,134,000.

Other large investors have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC raised its stake in shares of SPX Technologies by 3.4% during the first quarter. AlphaCore Capital LLC now owns 2,068 shares of the company's stock valued at $266,000 after acquiring an additional 68 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of SPX Technologies by 1.9% in the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock valued at $579,000 after purchasing an additional 83 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock valued at $83,000 after acquiring an additional 98 shares in the last quarter. NewEdge Advisors LLC boosted its position in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock valued at $80,000 after buying an additional 112 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in SPX Technologies by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 7,034 shares of the company's stock valued at $906,000 after purchasing an additional 113 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

SPX Technologies Price Performance

Shares of NYSE SPXC traded down $2.92 during mid-day trading on Friday, reaching $187.56. 109,089 shares of the company were exchanged, compared to its average volume of 315,117. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $209.38. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. The company's 50 day moving average price is $186.60 and its 200 day moving average price is $159.91. The stock has a market capitalization of $8.77 billion, a PE ratio of 42.20, a PEG ratio of 1.57 and a beta of 1.32.

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, beating analysts' consensus estimates of $1.45 by $0.20. The business 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 firm's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.