The Manufacturers Life Insurance Company Makes New Investment in SPX Technologies, Inc. $SPXC

The Manufacturers Life Insurance Company acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,088 shares of the company’s stock, valued at approximately $8,603,000. The Manufacturers Life Insurance Company owned approximately 0.07% of SPX Technologies as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SPXC. Group One Trading LLC purchased a new stake in SPX Technologies during the 2nd quarter worth approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of SPX Technologies during the second quarter worth $47,000. Hazlett Burt & Watson Inc. grew its holdings in shares of SPX Technologies by 56.7% during the fourth 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. Summit Securities Group LLC purchased a new stake in shares of SPX Technologies during the first quarter valued at $51,000. Finally, Hantz Financial Services Inc. increased 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 valued at $51,000 after acquiring an additional 45 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on SPXC. Truist Financial reaffirmed a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Zacks Research raised SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial lifted their price objective on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Down 3.4%

SPXC opened at $198.26 on Friday. SPX Technologies, Inc. has a fifty-two week low of $179.62 and a fifty-two week high of $251.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The company has a fifty day moving average of $217.60 and a two-hundred day moving average of $217.07. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 1.30 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, research analysts expect that SPX Technologies, Inc. will post 8.47 earnings per share 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.