EFG International AG Makes New Investment in SPX Technologies, Inc. $SPXC

EFG International AG bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, Holdings Channel reports. The firm bought 25,299 shares of the company’s stock, valued at approximately $6,205,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of SPX Technologies in the second quarter worth approximately $1,189,365,000. Invesco Ltd. lifted its position in SPX Technologies by 62.4% during the third 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 period. Capital International Investors bought a new position in SPX Technologies during the fourth quarter valued at approximately $307,494,000. First Trust Advisors LP boosted its holdings in SPX Technologies by 181.4% in the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after purchasing an additional 878,494 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SPX Technologies by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after purchasing an additional 63,889 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SPXC has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wolfe Research restated an “outperform” rating and issued a $266.00 price target on shares of SPX Technologies in a research note on Thursday, July 9th. Truist Financial reaffirmed a “buy” rating and issued a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Finally, B. Riley Financial increased their target price on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $201.55 on Wednesday. The firm has a 50 day moving average of $219.88 and a 200 day moving average of $217.42. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. SPX Technologies, Inc. has a 12-month low of $179.62 and a 12-month high of $251.08.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 8.47 earnings per share for the current year.

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.