Axiom Investors LLC DE Sells 3,887 Shares of SPX Technologies, Inc. $SPXC

Axiom Investors LLC DE lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,152 shares of the company’s stock after selling 3,887 shares during the period. Axiom Investors LLC DE’s holdings in SPX Technologies were worth $20,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPXC. Capital International Investors bought a new stake in SPX Technologies during the 4th quarter worth $307,494,000. Invesco Ltd. grew its position in SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after acquiring an additional 722,039 shares during the last quarter. Norges Bank bought a new stake in SPX Technologies during the 4th quarter worth $123,721,000. Vanguard Group Inc. grew its position in shares of SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after buying an additional 232,436 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in shares of SPX Technologies in the 3rd quarter valued at about $41,092,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Down 0.5%

SPXC stock opened at $228.77 on Wednesday. The stock’s 50 day simple moving average is $212.73 and its 200 day simple moving average is $213.48. SPX Technologies, Inc. has a fifty-two week low of $152.79 and a fifty-two week high of $246.68. 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 company has a market cap of $11.45 billion, a P/E ratio of 44.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $557.62 million. During the same period in the prior year, the business earned $1.38 EPS. The firm’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 expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on SPXC. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target on the stock. Wells Fargo & Company upped their target price on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Truist Financial upped their target price on SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Oppenheimer upped their target price on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

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.