BNP Paribas Financial Markets Cuts Stake in SPX Technologies, Inc. $SPXC

BNP Paribas Financial Markets reduced its stake in SPX Technologies, Inc. (NYSE:SPXC) by 12.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 79,459 shares of the company’s stock after selling 10,879 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of SPX Technologies worth $15,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Optiver Holding B.V. lifted its holdings in SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after purchasing an additional 84 shares during the last quarter. Ares Financial Consulting LLC purchased a new stake in SPX Technologies during the fourth quarter valued at about $37,000. Flagship Harbor Advisors LLC purchased a new stake in SPX Technologies during the fourth quarter valued at about $40,000. Sound Income Strategies LLC purchased a new stake in SPX Technologies during the fourth quarter valued at about $45,000. Finally, Hantz Financial Services Inc. lifted its holdings in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Oppenheimer upped their price objective on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Truist Financial upped their price target on SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets started coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.44.

SPX Technologies Stock Down 3.5%

SPXC stock opened at $227.93 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $211.57 and its 200 day moving average is $213.10. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 44.60, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. SPX Technologies, Inc. has a 1-year low of $152.79 and a 1-year high of $246.68.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. SPX Technologies’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Sell-side analysts predict that SPX Technologies, Inc. will post 7.98 EPS 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.