Candriam S.C.A. Acquires New Shares in SPX Technologies, Inc. $SPXC

Candriam S.C.A. bought a new position in SPX Technologies, Inc. (NYSE:SPXC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,312 shares of the company’s stock, valued at approximately $1,862,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its position in shares of SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after buying an additional 45 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of SPX Technologies by 1.6% during the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after acquiring an additional 50 shares during the last quarter. Intrust Bank NA grew its stake in shares of SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after acquiring an additional 58 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of SPX Technologies by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after acquiring an additional 60 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of SPX Technologies by 7.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock valued at $188,000 after purchasing an additional 62 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Up 1.2%

Shares of SPXC stock opened at $217.79 on Wednesday. SPX Technologies, Inc. has a 12 month low of $169.18 and a 12 month high of $251.08. The stock has a market cap of $10.90 billion, a P/E ratio of 42.62, a P/E/G ratio of 1.58 and a beta of 1.27. 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 50 day simple moving average of $222.24 and a two-hundred day simple moving average of $217.03.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share 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 the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, research analysts expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPXC. Truist Financial raised their target price on shares of SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price 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 target on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Finally, BMO Capital Markets began coverage on SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.50.

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.