Trexquant Investment LP Purchases New Shares in SPX Technologies, Inc. $SPXC

Trexquant Investment LP purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 1st quarter, according to the company in its most recent 13F 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 0.07% of SPX Technologies as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in SPX Technologies in the first quarter worth $27,000. Eastern Bank purchased a new stake in SPX Technologies in the first quarter worth $38,000. SVB Wealth LLC purchased a new stake in SPX Technologies in the first quarter worth $39,000. Skandinaviska Enskilda Banken AB publ increased 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 worth $78,000 after purchasing an additional 410 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock worth $83,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPXC. UBS Group increased their target price on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. B. Riley began coverage on SPX Technologies in a research note on Thursday, May 15th. They issued a “buy” rating and a $195.00 target price on the stock. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, SPX Technologies presently has a consensus rating of “Buy” and an average price target of $195.20.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $187.26 on Tuesday. The firm has a market cap of $8.76 billion, a P/E ratio of 42.08, a P/E/G ratio of 1.59 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38. The stock’s fifty day moving average price is $182.03 and its 200-day moving average price is $156.25.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.