King Luther Capital Management Corp bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,869 shares of the company’s stock, valued at approximately $1,774,000.
Several other large investors have also recently modified their holdings of SPXC. Invesco Ltd. increased its position in shares of SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Vanguard Group Inc. increased its position in shares of SPX Technologies by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of SPX Technologies during the 3rd quarter valued at approximately $41,092,000. GW&K Investment Management LLC increased its position in shares of SPX Technologies by 41.0% during the 3rd quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after purchasing an additional 160,162 shares during the last quarter. Finally, Amundi increased its position in shares of SPX Technologies by 1,064.4% during the 3rd quarter. Amundi now owns 144,748 shares of the company’s stock valued at $27,072,000 after purchasing an additional 132,317 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on SPXC shares. Oppenheimer lifted their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. BMO Capital Markets started coverage on shares of SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $249.44.
SPX Technologies Price Performance
Shares of SPXC stock opened at $213.72 on Friday. The firm has a market capitalization of $10.70 billion, a P/E ratio of 41.82, a P/E/G ratio of 1.58 and a beta of 1.31. SPX Technologies, Inc. has a 52-week low of $150.49 and a 52-week high of $246.68. The stock has a 50 day moving average price of $208.00 and a 200 day moving average price of $212.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11.
SPX Technologies (NYSE:SPXC – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 7.97 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.
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