Moore Capital Management LP Invests $12.68 Million in SPX Technologies, Inc. $SPXC

Moore Capital Management LP acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 67,901 shares of the company’s stock, valued at approximately $12,683,000. Moore Capital Management LP owned approximately 0.14% of SPX Technologies at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPXC. Royal Bank of Canada raised 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 buying an additional 2,892 shares during the period. AQR Capital Management LLC grew its stake in SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after buying an additional 8,854 shares during the period. Millennium Management LLC increased its position in shares of SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after acquiring an additional 56,799 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after acquiring an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of SPX Technologies by 1.8% in the 1st 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 acquiring an additional 3,353 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPXC stock opened at $203.37 on Tuesday. The firm has a fifty day simple moving average of $219.37 and a 200-day simple moving average of $206.76. The company has a market capitalization of $10.14 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.30. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $246.68. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $637.30 million for the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm’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 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of SPX Technologies in a report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 target price on the stock. Truist Financial increased their price target on SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company boosted their price objective on SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Finally, Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.63.

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.