Trexquant Investment LP Purchases Shares of 31,543 SPX Technologies, Inc. $SPXC

Key Points

• Trexquant Investment LP has acquired a new stake in SPX Technologies, Inc., purchasing 31,543 shares valued at about $4.06 million during the first quarter of the year.
• Numerous institutional investors are showing interest in SPX Technologies, with overall ownership in the company reaching 92.82%.
• SPX Technologies reported strong quarterly earnings, beating consensus estimates with an EPS of $1.65, and has set its FY 2025 guidance between 6.350-6.650 EPS.

Trexquant Investment LP purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,543 shares of the company's stock, valued at approximately $4,062,000. Trexquant Investment LP owned approximately 0.07% of SPX Technologies as of its most recent SEC filing.

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

SPX Technologies Stock Down 0.7%

Shares of NYSE:SPXC traded down $1.35 during mid-day trading on Wednesday, reaching $182.77. 257,293 shares of the stock were exchanged, compared to its average volume of 538,004. The stock's 50 day simple moving average is $182.89 and its 200-day simple moving average is $156.62. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $209.38. The company has a market cap of $8.55 billion, a P/E ratio of 41.07, a P/E/G ratio of 1.59 and a beta of 1.32. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62.

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 analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $552.40 million during the quarter, compared to the consensus estimate of $546.03 million. During the same quarter in the prior year, the firm posted $1.42 EPS. The business's revenue was up 10.2% on a year-over-year basis. 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.

Analyst Upgrades and Downgrades

SPXC has been the topic of several recent research reports. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. B. Riley initiated coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective for the company. UBS Group upped their target price 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. Finally, Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average 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.