OP Asset Management Ltd Makes New Investment in SPX Technologies, Inc. $SPXC

OP Asset Management Ltd purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,368 shares of the company’s stock, valued at approximately $1,073,000.

A number of other institutional investors have also modified their holdings of the company. Capital International Investors purchased a new stake in shares of SPX Technologies in the 4th quarter valued at $307,494,000. Invesco Ltd. boosted its holdings 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 acquiring an additional 722,039 shares during the period. Norges Bank purchased a new position in SPX Technologies during the 4th quarter valued at about $123,721,000. AustralianSuper Pty Ltd acquired a new position in SPX Technologies in the 3rd quarter valued at about $41,092,000. Finally, ArrowMark Colorado Holdings LLC acquired a new position in SPX Technologies in the 4th quarter valued at about $34,898,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 2.9%

Shares of SPX Technologies stock opened at $238.57 on Tuesday. 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 has a fifty day simple moving average of $221.00 and a 200-day simple moving average of $216.16. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 1.70 and a beta of 1.28. SPX Technologies, Inc. has a 12-month low of $165.15 and a 12-month high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. During the same period last year, the business earned $1.38 EPS. SPX Technologies’s revenue for the quarter was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPXC has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. BMO Capital Markets initiated coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

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.