SPX Technologies, Inc. $SPXC Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in SPX Technologies, Inc. (NYSE:SPXC) by 62.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,937 shares of the company’s stock after selling 24,415 shares during the period. Thrivent Financial for Lutherans’ holdings in SPX Technologies were worth $2,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares during the last quarter. Invesco Ltd. increased its holdings in SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Alliancebernstein L.P. increased its holdings in SPX Technologies by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after purchasing an additional 2,631 shares during the last quarter. Principal Financial Group Inc. increased 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 valued at $102,890,000 after purchasing an additional 55,482 shares during the last quarter. Finally, GW&K Investment Management LLC increased its holdings in SPX Technologies by 41.0% in the 3rd quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after purchasing an additional 160,162 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $207.36 on Friday. 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, Inc. has a 52 week low of $147.39 and a 52 week high of $246.68. The stock has a market capitalization of $10.41 billion, a PE ratio of 40.58, a P/E/G ratio of 1.53 and a beta of 1.31. The firm has a 50 day moving average of $207.08 and a two-hundred day moving average of $212.82.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter last year, the company posted $1.38 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, research analysts predict that SPX Technologies, Inc. will post 7.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Oppenheimer lifted their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $280.00 in a report on Friday, February 13th. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Wells Fargo & Company lifted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

SPX Technologies Company 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.