GW&K Investment Management LLC Sells 26,346 Shares of SPX Technologies, Inc. $SPXC

GW&K Investment Management LLC lessened its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 524,251 shares of the company’s stock after selling 26,346 shares during the period. SPX Technologies comprises approximately 0.9% of GW&K Investment Management LLC’s portfolio, making the stock its 12th biggest holding. GW&K Investment Management LLC’s holdings in SPX Technologies were worth $104,883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPXC. Royal Bank of Canada lifted its holdings in shares of SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after acquiring an additional 2,892 shares during the period. AQR Capital Management LLC lifted its holdings in shares of SPX Technologies by 74.5% during the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after acquiring an additional 8,854 shares during the period. Millennium Management LLC lifted its holdings in shares of SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after acquiring an additional 56,799 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after acquiring an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after acquiring an additional 3,353 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPXC stock opened at $228.77 on Wednesday. The company has a 50 day simple moving average of $212.73 and a 200 day simple moving average of $213.48. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 1.69 and a beta of 1.28. SPX Technologies, Inc. has a 1 year low of $152.79 and a 1 year high of $246.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Truist Financial upped their price target on shares of SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Monday, May 4th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Wells Fargo & Company upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

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.