Wellington Management Group LLP Sells 260,072 Shares of SPX Technologies, Inc. $SPXC

Wellington Management Group LLP reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 71.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,190 shares of the company’s stock after selling 260,072 shares during the quarter. Wellington Management Group LLP’s holdings in SPX Technologies were worth $26,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Group One Trading LLC bought a new position in SPX Technologies in the 2nd quarter worth approximately $32,000. Hazlett Burt & Watson Inc. boosted its position in SPX Technologies by 56.7% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after buying an additional 85 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at $47,000. Hantz Financial Services Inc. increased its stake in shares of SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after buying an additional 45 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of SPX Technologies during the first quarter worth $51,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPX Technologies stock opened at $196.27 on Friday. 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 $9.83 billion, a P/E ratio of 35.30, a PEG ratio of 1.28 and a beta of 1.27. The business has a 50-day moving average of $213.11 and a 200-day moving average of $215.77. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data 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 analyst estimates of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. SPX Technologies’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, equities analysts anticipate that SPX Technologies, Inc. will post 8.47 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SPXC shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a report on Monday, August 3rd. Wolfe Research reissued an “outperform” rating and set a $266.00 price objective on shares of SPX Technologies in a report on Thursday, July 9th. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, B. Riley Financial boosted their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $266.67.

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.