Savant Capital LLC Makes New $206,000 Investment in SPX Technologies, Inc. $SPXC

Savant Capital LLC bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,227 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also made changes to their positions in the company. Eastern Bank purchased a new position in SPX Technologies during the first quarter valued at approximately $38,000. SVB Wealth LLC acquired a new stake in shares of SPX Technologies during the 1st quarter valued at $39,000. Quarry LP purchased a new position in shares of SPX Technologies during the 1st quarter valued at $57,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of 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 acquiring an additional 410 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after acquiring an additional 112 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPXC. Wells Fargo & Company initiated coverage on SPX Technologies in a research note on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price on the stock. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group increased their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. TD Cowen began coverage on shares of SPX Technologies in a research note on Monday, November 10th. They issued a “hold” rating and a $225.00 target price for the company. Finally, B. Riley reissued a “buy” rating and issued a $225.00 target price (up from $212.00) on shares of SPX Technologies in a research report on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and an average price target of $205.22.

SPX Technologies Stock Down 2.8%

Shares of SPXC stock opened at $199.56 on Friday. The stock’s 50 day simple moving average is $196.10 and its 200 day simple moving average is $180.29. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $233.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 2.06 and a beta of 1.36.

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