Kennedy Capital Management LLC Has $11.77 Million Stock Position in SPX Technologies, Inc. $SPXC

Kennedy Capital Management LLC raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 271.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,191 shares of the company’s stock after buying an additional 51,273 shares during the quarter. Kennedy Capital Management LLC’s holdings in SPX Technologies were worth $11,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SPXC. Twin Peaks Wealth Advisors LLC acquired a new position in SPX Technologies in the second quarter valued at about $31,000. MAI Capital Management grew its position in shares of SPX Technologies by 80.9% in the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after purchasing an additional 93 shares during the period. SVB Wealth LLC bought a new stake in SPX Technologies during the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC raised its holdings in SPX Technologies by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $71,000 after buying an additional 164 shares during the period. Finally, Quarry LP bought a new position in SPX Technologies in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

SPXC has been the topic of several recent research reports. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a report on Monday. Truist Financial started coverage on shares of SPX Technologies in a research report on Monday, October 20th. They issued a “hold” rating and a $209.00 price objective on the stock. Wells Fargo & Company assumed coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price for the company. Finally, B. Riley reissued a “buy” rating and set a $225.00 price target (up from $212.00) on shares of SPX Technologies in a research report on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.00.

Insider Buying and Selling

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the sale, the insider owned 64,266 shares in the company, valued at $13,243,294.62. The trade was a 37.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.32% of the company’s stock.

SPX Technologies Stock Performance

SPXC opened at $208.73 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 1.97 and a beta of 1.32. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $233.71. The business has a 50 day moving average of $201.09 and a 200-day moving average of $184.43.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

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.