Principal Financial Group Inc. Acquires 17,524 Shares of SPX Technologies, Inc. $SPXC

Principal Financial Group Inc. grew its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,434 shares of the company’s stock after buying an additional 17,524 shares during the quarter. Principal Financial Group Inc.’s holdings in SPX Technologies were worth $89,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPXC. Hantz Financial Services Inc. raised its holdings 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 acquiring an additional 45 shares during the last quarter. Lido Advisors LLC boosted its stake in SPX Technologies by 1.6% during the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares during the last quarter. Intrust Bank NA boosted its stake in SPX Technologies by 3.6% during the 4th quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in SPX Technologies by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after purchasing an additional 60 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of SPX Technologies by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after purchasing an additional 62 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of recent research reports. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. BMO Capital Markets initiated coverage on SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. Truist Financial increased their price target on SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research reaffirmed an “outperform” rating and set a $266.00 price objective on shares of SPX Technologies in a report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.50.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $217.42 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.88 billion, a PE ratio of 42.55, a PEG ratio of 1.60 and a beta of 1.27. The stock’s 50 day moving average price is $222.33 and its 200-day moving average price is $217.10. SPX Technologies, Inc. has a twelve month low of $169.18 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same quarter in the prior year, the business earned $1.38 earnings per share. SPX Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities analysts anticipate that SPX Technologies, Inc. will post 7.98 EPS for the current year.

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.