Maryland State Retirement & Pension System Acquires 166 Shares of SPX Technologies, Inc. $SPXC

Maryland State Retirement & Pension System boosted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,699 shares of the company’s stock after buying an additional 166 shares during the period. Maryland State Retirement & Pension System’s holdings in SPX Technologies were worth $2,297,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPXC. NBC Securities Inc. bought a new stake in SPX Technologies during the first quarter valued at $27,000. Park Avenue Securities LLC boosted its stake in SPX Technologies by 1.9% during the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company’s stock valued at $579,000 after buying an additional 83 shares during the period. Farther Finance Advisors LLC boosted its stake in SPX Technologies by 18.5% during the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock valued at $83,000 after buying an additional 98 shares during the period. Harbor Capital Advisors Inc. boosted its stake in SPX Technologies by 23.3% during the first quarter. Harbor Capital Advisors Inc. now owns 9,351 shares of the company’s stock valued at $1,204,000 after buying an additional 1,764 shares during the period. Finally, GAMMA Investing LLC raised its position in SPX Technologies by 102.3% during the first quarter. GAMMA Investing LLC now owns 1,076 shares of the company’s stock valued at $139,000 after purchasing an additional 544 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Bank of America assumed coverage on SPX Technologies in a research report on Wednesday. They set a “neutral” rating and a $202.00 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of SPX Technologies in a research report on Wednesday. Finally, UBS Group raised their price target on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.33.

SPX Technologies Stock Down 0.5%

SPXC opened at $185.10 on Friday. The company has a market cap of $8.66 billion, a P/E ratio of 41.60, a P/E/G ratio of 1.58 and a beta of 1.37. The business’s 50-day moving average price is $189.28 and its 200-day moving average price is $165.51. The company has a current ratio of 1.97, a quick ratio of 1.28 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 released its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

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.