Voleon Capital Management LP Takes $1.16 Million Position in SPX Technologies, Inc. $SPXC

Key Points

• Voleon Capital Management LP has acquired a new position in SPX Technologies, purchasing 9,031 shares valued at approximately $1.16 million during the first quarter of the year.
• Several hedge funds have recently increased their stakes in SPX Technologies, with institutional investors now holding 92.82% of the company's stock.
• SPX Technologies saw an increase in earnings per share for the last quarter, reporting $1.65, surpassing estimates and demonstrating a 10.2% year-over-year revenue growth.

Voleon Capital Management LP bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,031 shares of the company's stock, valued at approximately $1,163,000.

A number of other hedge funds have also recently modified their holdings of SPXC. NBC Securities Inc. bought a new stake in shares of SPX Technologies during the 1st quarter valued at $27,000. Eastern Bank bought a new stake in shares of SPX Technologies during the 1st quarter valued at $38,000. SVB Wealth LLC bought a new stake in shares of SPX Technologies during the 1st quarter valued at $39,000. Quarry LP bought a new stake in shares of SPX Technologies during the 1st quarter valued at $57,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of SPX Technologies by 211.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock valued at $78,000 after buying an additional 410 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SPXC. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer lifted 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. UBS Group lifted their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, B. Riley began coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. One 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, the company currently has a consensus rating of "Buy" and a consensus price target of $195.20.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $189.27 on Tuesday. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $209.38. The business has a 50-day simple moving average of $184.12 and a two-hundred day simple moving average of $157.61. 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 firm has a market cap of $8.85 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its 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 business had revenue of $552.40 million during the quarter, compared to analyst estimates of $546.03 million. During the same quarter in the previous year, the firm earned $1.42 EPS. SPX Technologies'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. On average, analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

About SPX Technologies

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.

Want to see what other hedge funds are holding SPXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPX Technologies, Inc. (NYSE:SPXC - Free Report).

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.