Bessemer Group Inc. Raises Position in SPX Technologies, Inc. $SPXC

Bessemer Group Inc. increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 22.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,242 shares of the company’s stock after buying an additional 1,485 shares during the quarter. Bessemer Group Inc.’s holdings in SPX Technologies were worth $1,382,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in SPX Technologies by 102.3% in the first quarter. GAMMA Investing LLC now owns 1,076 shares of the company’s stock valued at $139,000 after acquiring an additional 544 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in SPX Technologies by 8.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,892 shares of the company’s stock worth $372,000 after buying an additional 218 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in SPX Technologies by 5.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,490 shares of the company’s stock worth $578,000 after buying an additional 221 shares in the last quarter. Vontobel Holding Ltd. boosted its position in SPX Technologies by 17.0% in the 1st quarter. Vontobel Holding Ltd. now owns 7,955 shares of the company’s stock valued at $1,024,000 after buying an additional 1,155 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of SPX Technologies by 71.3% during the first quarter. Teacher Retirement System of Texas now owns 11,453 shares of the company’s stock valued at $1,475,000 after acquiring an additional 4,766 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $198.82 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.37. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The business has a 50 day simple moving average of $188.10 and a 200-day simple moving average of $171.64.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.23. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.SPX Technologies’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SPXC shares. Oppenheimer increased their price target on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Bank of America assumed coverage on SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of SPX Technologies in a research report on Wednesday, October 8th. B. Riley restated a “buy” rating on shares of SPX Technologies in a research note on Monday. Finally, Wells Fargo & Company assumed coverage on shares of SPX Technologies in a research note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.00.

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.