Tidal Investments LLC Buys 5,061 Shares of SPX Technologies, Inc. $SPXC

Tidal Investments LLC increased its position in SPX Technologies, Inc. (NYSE:SPXC) by 10.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,384 shares of the company’s stock after acquiring an additional 5,061 shares during the quarter. Tidal Investments LLC’s holdings in SPX Technologies were worth $12,843,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its holdings in SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after acquiring an additional 45 shares during the period. Lido Advisors LLC boosted its holdings in SPX Technologies by 1.6% in the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares during the period. Intrust Bank NA boosted its holdings in SPX Technologies by 3.6% in the 4th quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of SPX Technologies by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of SPX Technologies by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after purchasing an additional 62 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 brokerages recently issued reports on SPXC. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. B. Riley Financial upped their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price target (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Truist Financial reissued a “buy” rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Trading Up 2.5%

SPXC stock opened at $191.58 on Friday. The company has a market capitalization of $9.60 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies, Inc. has a one year low of $179.62 and a one year high of $251.08. The company’s 50 day moving average price is $208.98 and its two-hundred day moving average price is $214.09.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts predict that SPX Technologies, Inc. will post 8.47 earnings per share for the current fiscal year.

About SPX Technologies

SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.

SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.