Blair William & Co. IL Grows Stake in SPX Technologies, Inc. $SPXC

Blair William & Co. IL raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 2.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 152,260 shares of the company’s stock after buying an additional 3,402 shares during the quarter. Blair William & Co. IL’s holdings in SPX Technologies were worth $28,439,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after acquiring an additional 2,892 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after purchasing an additional 8,854 shares during the period. Millennium Management LLC lifted its position in shares of SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after purchasing an additional 56,799 shares during the period. NewEdge Advisors LLC boosted its stake in shares of SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after purchasing an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of SPX Technologies by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after buying an additional 3,353 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPXC shares. B. Riley Financial reissued a “buy” rating and issued a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Truist Financial upped their target price on SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Oppenheimer increased their target price on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research report on Wednesday. They set an “overweight” rating and a $260.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.63.

Insider Activity at SPX Technologies

In other news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.32% of the stock is currently owned by corporate insiders.

SPX Technologies Stock Down 3.4%

Shares of SPX Technologies stock opened at $204.77 on Friday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $246.68. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 1.58 and a beta of 1.30. The company has a 50-day moving average of $219.00 and a 200 day moving average of $205.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. SPX Technologies’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.