3,091 Shares in SPX Technologies, Inc. $SPXC Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association has acquired a new position in SPX Technologies, purchasing 3,091 shares valued at approximately $400,000 during the first quarter.
• Analysts have a positive outlook on SPX Technologies, with UBS Group raising its price target from $182.00 to $210.00 and several others assigning a "buy" rating.
• SPX Technologies reported $1.65 EPS for the last quarter, surpassing the consensus estimate of $1.45, with revenue growth of 10.2% year-over-year.

United Services Automobile Association purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,091 shares of the company's stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Voleon Capital Management LP bought a new stake in shares of SPX Technologies during the first quarter worth about $1,163,000. Dynamic Technology Lab Private Ltd increased its position in shares of SPX Technologies by 794.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company's stock worth $1,819,000 after acquiring an additional 12,546 shares in the last quarter. Petrus Trust Company LTA bought a new stake in shares of SPX Technologies during the first quarter worth about $412,000. NewEdge Advisors LLC increased its position in shares of SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock worth $80,000 after acquiring an additional 112 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company's stock worth $10,725,000 after acquiring an additional 56,799 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Performance

SPXC traded up $0.68 during midday trading on Monday, reaching $187.00. The company had a trading volume of 180,588 shares, compared to its average volume of 317,519. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The stock has a market cap of $8.74 billion, a PE ratio of 42.02, a P/E/G ratio of 1.59 and a beta of 1.32. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $209.38. The business has a 50-day moving average price of $185.37 and a two-hundred day moving average price of $158.91.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates 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 company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. UBS Group upped their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report 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 equities research 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.com, SPX Technologies currently has an average rating of "Buy" and a consensus target price 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.