SPX Technologies, Inc. $SPXC Stock Position Decreased by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,899 shares of the company’s stock after selling 8,486 shares during the period. Clearbridge Investments LLC owned 0.09% of SPX Technologies worth $8,982,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position 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 valued at $989,649,000 after buying an additional 232,436 shares during the last quarter. Invesco Ltd. boosted its stake in SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors acquired a new position in SPX Technologies during the 4th quarter valued at about $307,494,000. Geode Capital Management LLC boosted its stake in SPX Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after purchasing an additional 63,889 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in SPX Technologies by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after purchasing an additional 2,631 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPXC. Wells Fargo & Company boosted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Oppenheimer boosted their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Truist Financial boosted their target price on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.44.

SPX Technologies Trading Down 1.8%

Shares of NYSE:SPXC opened at $223.96 on Thursday. The company has a 50 day moving average of $213.39 and a 200-day moving average of $213.65. The firm has a market cap of $11.21 billion, a P/E ratio of 43.83, a P/E/G ratio of 1.67 and a beta of 1.28. SPX Technologies, Inc. has a twelve month low of $152.79 and a twelve month high of $246.68. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

SPX Technologies (NYSE:SPXC) last issued 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. The company had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business’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 posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal year.

SPX Technologies Company 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.