Brown Advisory Inc. reduced its stake in SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,532 shares of the company’s stock after selling 27,129 shares during the quarter. Brown Advisory Inc.’s holdings in SPX Technologies were worth $49,921,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of SPX Technologies by 46.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock worth $14,854,000 after acquiring an additional 23,439 shares during the period. Quantbot Technologies LP acquired a new position in shares of SPX Technologies in the third quarter worth approximately $4,626,000. Waratah Capital Advisors Ltd. acquired a new position in shares of SPX Technologies in the third quarter worth approximately $6,708,000. Interval Partners LP acquired a new position in shares of SPX Technologies in the third quarter worth approximately $7,452,000. Finally, Goelzer Investment Management Inc. acquired a new position in shares of SPX Technologies in the fourth quarter worth approximately $720,000. 92.82% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently commented on SPXC shares. Oppenheimer lifted their price objective on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. boosted their price target on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price target on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets initiated coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target on the stock. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.44.
SPX Technologies Trading Up 0.1%
NYSE SPXC opened at $230.21 on Monday. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 45.05, a P/E/G ratio of 1.69 and a beta of 1.28. SPX Technologies, Inc. has a 52 week low of $152.79 and a 52 week high of $246.68. The business has a 50 day moving average price of $214.60 and a 200-day moving average price of $213.99. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28.
SPX Technologies (NYSE:SPXC – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million during the quarter, compared to the consensus estimate 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 posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, equities analysts expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal 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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