Strs Ohio Sells 1,700 Shares of SPX Technologies, Inc. $SPXC

Strs Ohio decreased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 14.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the company’s stock after selling 1,700 shares during the period. Strs Ohio’s holdings in SPX Technologies were worth $1,643,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SPXC. Nuveen LLC bought a new position in shares of SPX Technologies in the 1st quarter worth $88,852,000. Champlain Investment Partners LLC bought a new position in shares of SPX Technologies in the 1st quarter worth $52,699,000. Van Berkom & Associates Inc. increased its holdings in shares of SPX Technologies by 3,195.9% in the 1st quarter. Van Berkom & Associates Inc. now owns 368,024 shares of the company’s stock worth $47,394,000 after buying an additional 356,858 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of SPX Technologies by 35.3% in the 1st quarter. Channing Capital Management LLC now owns 415,393 shares of the company’s stock worth $53,494,000 after buying an additional 108,329 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of SPX Technologies in the 1st quarter worth $9,039,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 0.6%

Shares of SPXC opened at $213.93 on Wednesday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 48.07, a PEG ratio of 2.06 and a beta of 1.37. 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 firm has a fifty day simple moving average of $189.75 and a two-hundred day simple moving average of $174.10. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $233.71.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.24. The business had revenue of $592.80 million during the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analyst Upgrades and Downgrades

SPXC has been the topic of several recent research reports. Oppenheimer increased their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. UBS Group increased their target price on shares of SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 1st. Truist Financial initiated coverage on shares of SPX Technologies in a report on Monday, October 20th. They set a “hold” rating and a $209.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SPX Technologies in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.75.

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.