Creative Planning Increases Stock Position in SPX Technologies, Inc. $SPXC

Creative Planning raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,694 shares of the company’s stock after purchasing an additional 1,269 shares during the quarter. Creative Planning owned about 0.05% of SPX Technologies worth $3,973,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. CWM LLC lifted its position in SPX Technologies by 80.2% in the first quarter. CWM LLC now owns 2,114 shares of the company’s stock valued at $272,000 after purchasing an additional 941 shares during the period. Private Advisor Group LLC increased its position in SPX Technologies by 1.6% during the 1st quarter. Private Advisor Group LLC now owns 7,034 shares of the company’s stock worth $906,000 after purchasing an additional 113 shares during the period. PFG Advisors raised its stake in shares of SPX Technologies by 19.2% during the 1st quarter. PFG Advisors now owns 2,293 shares of the company’s stock worth $295,000 after buying an additional 369 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $349,000. Finally, Cetera Investment Advisers purchased a new stake in shares of SPX Technologies in the first quarter valued at approximately $694,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insider Transactions at SPX Technologies

In other news, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 64,266 shares of the company’s stock, valued at approximately $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. Company insiders own 3.32% of the company’s stock.

SPX Technologies Stock Up 2.7%

Shares of NYSE SPXC opened at $204.74 on Friday. The firm has a market cap of $10.20 billion, a P/E ratio of 46.01, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $233.71. The firm’s 50 day moving average price is $196.46 and its 200 day moving average price is $180.69.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. During the same period last year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on SPXC. B. Riley reissued a “buy” rating and issued a $225.00 target price (up previously from $212.00) on shares of SPX Technologies in a report on Monday, October 27th. Bank of America started coverage on shares of SPX Technologies in a research note on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective for the company. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. TD Cowen initiated coverage on shares of SPX Technologies in a report on Monday, November 10th. They issued a “hold” rating and a $225.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on SPX Technologies in a research note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $205.22.

About SPX Technologies

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.