Universal Beteiligungs und Servicegesellschaft mbH Purchases 24,537 Shares of SPX Technologies, Inc. $SPXC

Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 93.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,785 shares of the company’s stock after buying an additional 24,537 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of SPX Technologies worth $9,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPXC. Royal Bank of Canada lifted its position in SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after acquiring an additional 2,892 shares during the period. AQR Capital Management LLC increased its stake in shares of SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after purchasing an additional 8,854 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after purchasing an additional 56,799 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after purchasing an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after purchasing an additional 3,353 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPXC. B. Riley reiterated a “buy” rating and set a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company began coverage on shares of SPX Technologies in a research note on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 price target on the stock. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Finally, Bank of America initiated coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, SPX Technologies has an average rating of “Moderate Buy” and an average price target of $214.14.

SPX Technologies Trading Down 2.9%

SPX Technologies stock opened at $210.74 on Friday. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $233.71. The business’s fifty day moving average is $210.19 and its 200 day moving average is $197.47. The stock has a market capitalization of $10.50 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 1.76 and a beta of 1.33. 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 (NYSE:SPXC) last posted its earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.24. The business had revenue of $592.80 million for the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Insider Activity at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider owned 38,020 shares in the company, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John William Swann III sold 38,755 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the sale, the insider owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.32% of the company’s stock.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.