Louisiana State Employees Retirement System Purchases Shares of 14,400 SPX Technologies, Inc. $SPXC

Louisiana State Employees Retirement System bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 1st quarter, Holdings Channel.com reports. The firm bought 14,400 shares of the company’s stock, valued at approximately $2,879,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fifth Third Wealth Advisors LLC lifted its holdings in SPX Technologies by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of SPX Technologies in the first quarter valued at about $1,073,000. Diversified Trust Co raised its position in shares of SPX Technologies by 12.7% in the first quarter. Diversified Trust Co now owns 18,782 shares of the company’s stock valued at $3,755,000 after purchasing an additional 2,122 shares during the period. Hsbc Holdings PLC lifted its stake in shares of SPX Technologies by 524.0% during the 4th quarter. Hsbc Holdings PLC now owns 10,596 shares of the company’s stock worth $2,132,000 after buying an additional 8,898 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of SPX Technologies by 24.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 557 shares of the company’s stock worth $111,000 after buying an additional 110 shares during the period. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPXC. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Wells Fargo & Company boosted their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BMO Capital Markets started coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 target price on the stock. Truist Financial increased their target price on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

SPX Technologies Stock Performance

SPXC opened at $231.65 on Monday. The firm has a market cap of $11.60 billion, a P/E ratio of 45.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.28. SPX Technologies, Inc. has a 52-week low of $165.15 and a 52-week high of $251.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The business’s fifty day moving average is $220.53 and its 200-day moving average is $215.95.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.14. The business had revenue of $566.80 million for 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 firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the business 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 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.