SPX Technologies, Inc. $SPXC Position Raised by EntryPoint Capital LLC

EntryPoint Capital LLC increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 29.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,121 shares of the company’s stock after purchasing an additional 482 shares during the period. EntryPoint Capital LLC’s holdings in SPX Technologies were worth $273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in SPX Technologies during the first quarter worth approximately $27,000. Eastern Bank bought a new stake in SPX Technologies during the first quarter worth approximately $38,000. Skandinaviska Enskilda Banken AB publ raised its holdings in SPX Technologies by 211.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company’s stock worth $78,000 after purchasing an additional 410 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in SPX Technologies by 18.5% during the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock worth $83,000 after purchasing an additional 98 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in SPX Technologies by 28.2% during the first quarter. Signaturefd LLC now owns 805 shares of the company’s stock worth $104,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. B. Riley began coverage on SPX Technologies in a research note on Thursday, May 15th. They set a “buy” rating and a $195.00 price objective for the company. Oppenheimer raised their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. UBS Group raised their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $195.20.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $190.7530 on Friday. The stock has a market cap of $8.92 billion, a PE ratio of 42.87, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The business has a fifty day simple moving average of $177.97 and a 200-day simple moving average of $154.62. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $209.38.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. The business had revenue of $552.40 million during the quarter, compared to analysts’ expectations of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.SPX Technologies’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Insider Activity at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the sale, the director owned 33,770 shares of the company’s stock, valued at $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Company 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.