Greenwood Capital Associates LLC Sells 506 Shares of SPX Technologies, Inc. $SPXC

Greenwood Capital Associates LLC cut its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 18.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,307 shares of the company’s stock after selling 506 shares during the quarter. Greenwood Capital Associates LLC’s holdings in SPX Technologies were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its position in SPX Technologies by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock valued at $102,920,000 after acquiring an additional 11,400 shares in the last quarter. Nuveen LLC bought a new stake in SPX Technologies during the 1st quarter valued at approximately $88,852,000. Charles Schwab Investment Management Inc. boosted its position in SPX Technologies by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company’s stock valued at $81,886,000 after acquiring an additional 10,501 shares in the last quarter. Northern Trust Corp boosted its position in SPX Technologies by 1.0% during the 1st quarter. Northern Trust Corp now owns 544,145 shares of the company’s stock valued at $70,075,000 after acquiring an additional 5,644 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in SPX Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 514,858 shares of the company’s stock valued at $66,305,000 after acquiring an additional 2,505 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Oppenheimer lifted their price objective on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SPX Technologies in a research report on Saturday, September 27th. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Finally, UBS Group lifted their price objective on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, SPX Technologies presently has a consensus rating of “Buy” and a consensus target price of $195.20.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $190.13 on Friday. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The firm has a market cap of $8.89 billion, a P/E ratio of 42.72, a PEG ratio of 1.60 and a beta of 1.37. The company has a 50 day moving average of $188.92 and a 200 day moving average of $163.76. 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) last announced its quarterly earnings data 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 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 analyst estimates of $546.03 million. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue for the quarter 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, research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal 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.