Norges Bank Invests $123.72 Million in SPX Technologies, Inc. $SPXC

Norges Bank bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, HoldingsChannel reports. The firm bought 618,418 shares of the company’s stock, valued at approximately $123,721,000.

Several other hedge funds also recently made changes to their positions in SPXC. Optiver Holding B.V. grew its stake in SPX Technologies by 110.5% in the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after purchasing an additional 84 shares during the period. Ares Financial Consulting LLC purchased a new position in SPX Technologies during the fourth quarter valued at $37,000. Flagship Harbor Advisors LLC purchased a new position in SPX Technologies during the fourth quarter valued at $40,000. Sound Income Strategies LLC bought a new stake in shares of SPX Technologies during the 4th quarter valued at $45,000. Finally, Hantz Financial Services Inc. grew its position 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 worth $51,000 after buying an additional 45 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $236.36 on Friday. The business has a fifty day moving average price of $211.03 and a 200-day moving average price of $213.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The company has a market capitalization of $11.83 billion, a PE ratio of 46.25, a PEG ratio of 1.72 and a beta of 1.28. SPX Technologies, Inc. has a 1-year low of $152.79 and a 1-year high of $246.68.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter in the previous year, the business posted $1.38 EPS. SPX Technologies’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. As a group, equities analysts expect that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on SPXC shares. Wells Fargo & Company increased their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Oppenheimer upped their price objective on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.