Corient Private Wealth LP Takes Position in SPX Technologies, Inc. $SPXC

Corient Private Wealth LP purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 4,627 shares of the company’s stock, valued at approximately $1,134,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its stake in SPX Technologies by 21.4% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Lido Advisors LLC increased its position in shares of SPX Technologies by 1.6% during the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock worth $586,000 after purchasing an additional 50 shares in the last quarter. Intrust Bank NA lifted its holdings in shares of SPX Technologies by 3.6% in 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 lifted its holdings in shares of SPX Technologies by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of SPX Technologies by 7.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock valued at $188,000 after purchasing an additional 62 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

SPX Technologies stock opened at $196.27 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The business has a 50 day simple moving average of $213.11 and a 200-day simple moving average of $215.77. SPX Technologies, Inc. has a 12 month low of $179.62 and a 12 month high of $251.08. The stock has a market capitalization of $9.83 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last posted its quarterly 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. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities analysts predict that SPX Technologies, Inc. will post 8.47 earnings per share for the current year.

Wall Street Analyst Weigh In

SPXC has been the topic of a number of research reports. Wolfe Research restated an “outperform” rating and set a $266.00 price target on shares of SPX Technologies in a research note on Thursday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Wells Fargo & Company restated an “overweight” rating and set a $250.00 target price on shares of SPX Technologies in a research report on Monday, August 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Finally, Truist Financial reiterated a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $266.67.

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.