Kennedy Capital Management LLC lessened its stake in SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,710 shares of the company’s stock after selling 9,261 shares during the period. Kennedy Capital Management LLC’s holdings in SPX Technologies were worth $10,545,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SPXC. Royal Bank of Canada increased its position in SPX Technologies by 8.1% in the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after acquiring an additional 2,892 shares during the period. AQR Capital Management LLC increased its position in SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after acquiring an additional 8,854 shares during the period. Millennium Management LLC increased its position in SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after acquiring an additional 56,799 shares during the period. NewEdge Advisors LLC increased its position in SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after acquiring an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after purchasing an additional 3,353 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.
Wall Street Analyst Weigh In
SPXC has been the topic of a number of analyst reports. Truist Financial lifted their price objective on SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a report on Monday, May 4th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Wells Fargo & Company lifted their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Oppenheimer lifted their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.44.
SPX Technologies Price Performance
Shares of NYSE:SPXC opened at $230.21 on Monday. The business’s 50 day simple moving average is $214.60 and its 200-day simple moving average is $213.99. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 45.05, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. SPX Technologies, Inc. has a 12 month low of $152.79 and a 12 month high of $246.68.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced 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 business had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, equities analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal 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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