Assenagon Asset Management S.A. Has $43.27 Million Position in SPX Technologies, Inc. $SPXC

Assenagon Asset Management S.A. grew its position in SPX Technologies, Inc. (NYSE:SPXC) by 37.5% during the 3rd quarter, Holdings Channel reports. The firm owned 231,673 shares of the company’s stock after purchasing an additional 63,174 shares during the quarter. Assenagon Asset Management S.A.’s holdings in SPX Technologies were worth $43,272,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. 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 SPX Technologies by 80.9% during the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock worth $35,000 after acquiring an additional 93 shares during the last quarter. SVB Wealth LLC acquired a new stake in SPX Technologies during the 1st quarter valued at $39,000. Quarry LP bought a new position in SPX Technologies in the 1st quarter valued at $57,000. Finally, EverSource Wealth Advisors LLC raised its position in SPX Technologies by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $71,000 after purchasing an additional 164 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

Insider Transactions at SPX Technologies

In other 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 transaction, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This trade represents a 37.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.32% of the company’s stock.

SPX Technologies Trading Up 1.5%

SPX Technologies stock opened at $210.49 on Friday. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 45.07, a P/E/G ratio of 1.95 and a beta of 1.32. The firm has a 50-day moving average of $206.47 and a 200-day moving average of $188.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $233.71.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company initiated coverage on SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research report on Monday, December 8th. B. Riley reaffirmed a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Bank of America initiated coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price on the stock. Finally, TD Cowen began coverage on SPX Technologies in a research note on Monday, November 10th. They set a “hold” rating and a $225.00 price target on the stock. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.14.

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.