BlueCrest Capital Management Ltd Purchases New Position in SPX Technologies, Inc. $SPXC

BlueCrest Capital Management Ltd purchased a new position in SPX Technologies, Inc. (NYSE:SPXC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,699 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its stake in shares of SPX Technologies by 271.0% in the second quarter. Kennedy Capital Management LLC now owns 70,191 shares of the company’s stock worth $11,770,000 after purchasing an additional 51,273 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in SPX Technologies by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after buying an additional 55,482 shares during the period. Moody Aldrich Partners LLC grew its stake in SPX Technologies by 18.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock valued at $6,252,000 after buying an additional 5,290 shares in the last quarter. Emerald Advisers LLC raised its holdings in SPX Technologies by 13.6% during the 3rd quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock valued at $28,672,000 after acquiring an additional 18,403 shares during the period. Finally, Voya Investment Management LLC raised its holdings in SPX Technologies by 36.6% during the 3rd quarter. Voya Investment Management LLC now owns 186,359 shares of the company’s stock valued at $34,808,000 after acquiring an additional 49,884 shares during the period. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

SPX Technologies stock opened at $204.55 on Wednesday. The firm has a fifty day simple moving average of $219.28 and a two-hundred day simple moving average of $206.88. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $246.68. The company has a market capitalization of $10.20 billion, a PE ratio of 40.83, a P/E/G ratio of 1.56 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.SPX Technologies’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPXC. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. B. Riley Financial restated 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Truist Financial upped their price target on SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Finally, Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.63.

SPX Technologies Profile

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.