SPX Technologies, Inc. $SPXC Stake Lifted by Channing Capital Management LLC

Channing Capital Management LLC increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 35.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,393 shares of the company’s stock after acquiring an additional 108,329 shares during the period. Channing Capital Management LLC owned approximately 0.89% of SPX Technologies worth $53,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank boosted its holdings in shares of SPX Technologies by 25.4% in the fourth quarter. Comerica Bank now owns 86,267 shares of the company’s stock valued at $12,554,000 after acquiring an additional 17,472 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in SPX Technologies during the first quarter valued at approximately $890,000. Pacer Advisors Inc. boosted its holdings in SPX Technologies by 80.1% during the first quarter. Pacer Advisors Inc. now owns 1,951 shares of the company’s stock worth $251,000 after buying an additional 868 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in SPX Technologies by 61.4% during the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company’s stock worth $1,620,000 after buying an additional 4,229 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in SPX Technologies by 1,544.0% during the first quarter. Bessemer Group Inc. now owns 6,757 shares of the company’s stock worth $870,000 after buying an additional 6,346 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the sale, the director owned 33,770 shares in the company, valued at $5,167,147.70. This represents a 16.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is currently owned by insiders.

SPX Technologies Stock Down 0.7%

SPXC stock opened at $186.6050 on Thursday. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month 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 has a market cap of $8.73 billion, a price-to-earnings ratio of 41.93, a PEG ratio of 1.60 and a beta of 1.27. The company has a 50 day moving average of $176.69 and a two-hundred day moving average of $154.05.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.20. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The company 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 earned $1.42 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. B. Riley assumed coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a “buy” rating and a $195.00 target price for the company. Oppenheimer raised their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, UBS Group raised their target price on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.