Thurston Springer Miller Herd & Titak Inc. Takes $1.13 Million 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. purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,761 shares of the company's stock, valued at approximately $1,134,000.

A number of other large investors have also recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its position in shares of SPX Technologies by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock valued at $102,920,000 after acquiring an additional 11,400 shares during the last quarter. Nuveen LLC bought a new stake in shares of SPX Technologies during the 1st quarter valued at about $88,852,000. Charles Schwab Investment Management Inc. boosted its position in shares of SPX Technologies by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company's stock valued at $81,886,000 after acquiring an additional 10,501 shares during the last quarter. Northern Trust Corp boosted its position in shares of SPX Technologies by 1.0% during the 1st quarter. Northern Trust Corp now owns 544,145 shares of the company's stock valued at $70,075,000 after acquiring an additional 5,644 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in SPX Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 514,858 shares of the company's stock worth $66,305,000 after buying an additional 2,505 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of SPX Technologies stock opened at $186.69 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The business's 50 day simple moving average is $185.37 and its two-hundred day simple moving average is $158.91. The stock has a market capitalization of $8.73 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $209.38.

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

Analyst Ratings Changes

A number of analysts recently weighed in on SPXC shares. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer boosted 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. Finally, 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 report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, SPX Technologies presently has an average rating of "Buy" and a consensus target price of $195.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.