Cadent Capital Advisors LLC Takes Position in SPX Technologies, Inc. $SPXC

Cadent Capital Advisors LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,245 shares of the company’s stock, valued at approximately $1,049,000.

Several other large investors have also recently bought and sold shares of SPXC. Vanguard Group Inc. increased its holdings 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 worth $989,649,000 after purchasing an additional 232,436 shares during the period. Invesco Ltd. lifted its stake in shares of SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after buying an additional 722,039 shares during the period. Alliancebernstein L.P. lifted its stake in shares of SPX Technologies by 0.4% in the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the period. Charles Schwab Investment Management Inc. grew its position in SPX Technologies by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after buying an additional 14,941 shares in the last quarter. Finally, Norges Bank bought a new position in SPX Technologies during the second quarter valued at about $97,223,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. B. Riley Financial reaffirmed a “buy” rating and issued a $244.00 price target (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Truist Financial boosted their price objective on SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Wells Fargo & Company raised their target price on SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of SPX Technologies in a research note on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.63.

SPX Technologies Stock Performance

NYSE:SPXC opened at $200.90 on Friday. The firm has a market capitalization of $10.02 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $246.68. The firm has a 50-day moving average price of $217.74 and a 200 day moving average price of $207.20.

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