Geode Capital Management LLC Has $242.87 Million Position in SPX Technologies, Inc. $SPXC

Geode Capital Management LLC lifted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,213,809 shares of the company’s stock after buying an additional 63,889 shares during the period. Geode Capital Management LLC owned about 2.44% of SPX Technologies worth $242,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after buying an additional 232,436 shares during the period. Invesco Ltd. boosted its position in shares of SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after buying an additional 722,039 shares during the period. Alliancebernstein L.P. boosted its position in shares of SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock worth $124,695,000 after buying an additional 2,631 shares during the period. Principal Financial Group Inc. boosted its position in shares of SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after buying an additional 55,482 shares during the period. Finally, GW&K Investment Management LLC boosted its position in shares of SPX Technologies by 41.0% during the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock worth $102,842,000 after buying an additional 160,162 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPXC has been the subject of several recent research reports. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. BMO Capital Markets initiated coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective for the company. Finally, Truist Financial upped their price objective on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Stock Performance

SPXC opened at $229.44 on Wednesday. SPX Technologies, Inc. has a 52-week low of $152.79 and a 52-week high of $246.68. The firm has a market capitalization of $11.49 billion, a PE ratio of 44.90, a PEG ratio of 1.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The business’s 50-day simple moving average is $208.67 and its 200 day simple moving average is $212.59.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. During the same quarter in the prior year, the company posted $1.38 earnings per share. SPX Technologies’s revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal 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.