SG Americas Securities LLC decreased its position in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 73.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,971 shares of the company’s stock after selling 16,793 shares during the period. SG Americas Securities LLC’s holdings in SPX Technologies were worth $1,194,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after purchasing an additional 2,892 shares during the period. AQR Capital Management LLC lifted its position in shares of SPX Technologies by 74.5% during the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after purchasing an additional 8,854 shares during the last quarter. Millennium Management LLC boosted its stake in SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after purchasing an additional 56,799 shares during the period. NewEdge Advisors LLC boosted its stake in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after purchasing an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 buying an additional 3,353 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SPXC has been the topic of several recent analyst reports. Truist Financial lifted their price target on SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective 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. BMO Capital Markets started coverage on shares of SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Finally, Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.22.
SPX Technologies Stock Down 0.1%
SPXC stock opened at $227.46 on Friday. SPX Technologies, Inc. has a twelve month low of $168.73 and a twelve month high of $251.08. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market cap of $11.39 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.27. The business’s 50-day simple moving average is $222.05 and its 200 day simple moving average is $216.52.
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, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter in the prior year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.
SPX Technologies 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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