Squarepoint Ops LLC acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 57,893 shares of the company’s stock, valued at approximately $14,194,000.
Several other hedge funds also recently made changes to their positions in SPXC. Hantz Financial Services Inc. increased its stake in shares of SPX Technologies by 21.4% during the fourth 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 period. Lido Advisors LLC lifted its position in SPX Technologies by 1.6% in the fourth 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 period. Intrust Bank NA lifted its position in SPX Technologies by 3.6% in the fourth 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 period. Fifth Third Wealth Advisors LLC boosted its holdings in 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 in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in SPX Technologies by 7.1% during the 4th 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 period. Institutional investors and hedge funds own 92.82% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. 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. Truist Financial reiterated a “buy” rating and issued a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $266.67.
SPX Technologies Trading Down 2.2%
Shares of SPX Technologies stock opened at $192.84 on Thursday. SPX Technologies, Inc. has a fifty-two week low of $179.62 and a fifty-two week high of $251.08. The firm has a market cap of $9.66 billion, a PE ratio of 34.68, a P/E/G ratio of 1.29 and a beta of 1.27. The business’s fifty day moving average is $210.51 and its two-hundred day moving average is $214.63. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Analysts anticipate that SPX Technologies, Inc. will post 8.47 earnings per share for the current year.
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.
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