Fisher Asset Management LLC Grows Holdings in SPX Technologies, Inc. $SPXC

Fisher Asset Management LLC boosted its position in SPX Technologies, Inc. (NYSE:SPXC) by 49.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 176,507 shares of the company’s stock after purchasing an additional 58,326 shares during the period. Fisher Asset Management LLC owned about 0.35% of SPX Technologies worth $32,968,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of SPX Technologies in the 2nd quarter worth approximately $97,223,000. Vanguard Group Inc. boosted its position in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after purchasing an additional 232,436 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in SPX Technologies in the 3rd quarter valued at $41,092,000. Invesco Ltd. grew its stake in SPX Technologies by 22.3% in the 2nd quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock valued at $194,035,000 after purchasing an additional 210,682 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of SPX Technologies by 33.3% during the 2nd quarter. Franklin Resources Inc. now owns 301,284 shares of the company’s stock valued at $50,519,000 after purchasing an additional 75,263 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPXC. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. B. Riley Financial reiterated a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Oppenheimer raised 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.29.

Insider Buying and Selling

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares of the company’s stock, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.32% of the stock is currently owned by corporate insiders.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $219.44 on Wednesday. The firm’s 50 day moving average is $218.75 and its 200 day moving average is $205.55. The stock has a market capitalization of $10.95 billion, a P/E ratio of 43.80, a PEG ratio of 1.74 and a beta of 1.30. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $246.68. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The business had revenue of $637.30 million for the quarter, compared to analysts’ expectations of $625.98 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 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.