Assenagon Asset Management S.A. Sells 11,388 Shares of SPX Technologies, Inc. $SPXC

Assenagon Asset Management S.A. cut its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 35.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,660 shares of the company’s stock after selling 11,388 shares during the period. Assenagon Asset Management S.A.’s holdings in SPX Technologies were worth $4,131,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Diversified Trust Co raised its holdings in shares of SPX Technologies by 12.7% during the 1st quarter. Diversified Trust Co now owns 18,782 shares of the company’s stock worth $3,755,000 after buying an additional 2,122 shares in the last quarter. Hsbc Holdings PLC boosted its stake in SPX Technologies by 524.0% in the fourth quarter. Hsbc Holdings PLC now owns 10,596 shares of the company’s stock valued at $2,132,000 after buying an additional 8,898 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in SPX Technologies by 24.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 557 shares of the company’s stock valued at $111,000 after buying an additional 110 shares in the last quarter. Mengis Capital Management Inc. raised its stake in SPX Technologies by 66.7% during the fourth quarter. Mengis Capital Management Inc. now owns 10,000 shares of the company’s stock worth $2,001,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of SPX Technologies by 660.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 981 shares of the company’s stock worth $196,000 after acquiring an additional 852 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPXC. 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 note on Wednesday, May 6th. Wells Fargo & Company increased their price objective 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. Truist Financial raised their target price on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Monday, May 4th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Finally, BMO Capital Markets started coverage on shares of SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.44.

SPX Technologies Stock Performance

NYSE SPXC opened at $238.57 on Tuesday. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 1.70 and a beta of 1.28. 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 twelve month low of $165.15 and a twelve month high of $251.08. The stock has a fifty day simple moving average of $221.00 and a 200 day simple moving average of $216.16.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Sell-side analysts expect that SPX Technologies, Inc. will post 7.98 EPS for the current year.

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.