Horizon Investments LLC Decreases Stake in SPX Technologies, Inc. $SPXC

Horizon Investments LLC lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 93.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 927 shares of the company’s stock after selling 14,059 shares during the quarter. Horizon Investments LLC’s holdings in SPX Technologies were worth $185,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in SPX Technologies by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares in the last quarter. Invesco Ltd. lifted its position in SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after acquiring an additional 722,039 shares in the last quarter. Alliancebernstein L.P. lifted its position in SPX Technologies by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock worth $124,695,000 after acquiring an additional 2,631 shares in the last quarter. Principal Financial Group Inc. lifted its position in SPX Technologies by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after acquiring an additional 55,482 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in SPX Technologies by 41.0% during the 3rd quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock worth $102,842,000 after acquiring an additional 160,162 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC opened at $202.92 on Monday. The business’s 50 day moving average is $210.51 and its two-hundred day moving average is $212.47. SPX Technologies, Inc. has a 52-week low of $147.39 and a 52-week high of $246.68. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 1.49 and a beta of 1.31. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. During the same period in the prior year, the company posted $1.38 EPS. SPX Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Analysts forecast that SPX Technologies, Inc. will post 7.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SPXC shares. Oppenheimer boosted their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Truist Financial boosted their price target on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Finally, BMO Capital Markets assumed coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.44.

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.