2,553 Shares in SPX Technologies, Inc. $SPXC Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,553 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds have also modified their holdings of the company. Capital International Investors acquired a new stake in SPX Technologies during the 4th quarter worth approximately $307,494,000. Invesco Ltd. grew its stake in 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. Norges Bank acquired a new stake in shares of SPX Technologies in the fourth quarter worth $123,721,000. ArrowMark Colorado Holdings LLC purchased a new position in shares of SPX Technologies in the 4th quarter valued at $34,898,000. Finally, HRT Financial LP purchased a new position in shares of SPX Technologies in the 4th quarter valued at $31,218,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Trading Down 2.2%

NYSE:SPXC opened at $214.01 on Thursday. The company has a market cap of $10.71 billion, a PE ratio of 41.88, a P/E/G ratio of 1.61 and a beta of 1.27. The business’s 50 day moving average is $221.94 and its two-hundred day moving average is $216.73. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a 52 week low of $169.18 and a 52 week high of $251.08.

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, beating 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 during the quarter, compared to the consensus estimate of $557.62 million. During the same period in the previous year, the business earned $1.38 EPS. The business’s quarterly 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. On average, analysts predict that SPX Technologies, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SPXC shares. Truist Financial lifted their price objective on shares of SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. lifted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.22.

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.