5,029 Shares in SPX Technologies, Inc. $SPXC Bought by Commerce Bank

Commerce Bank purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,029 shares of the company’s stock, valued at approximately $1,233,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPXC. BlackRock Inc. bought a new stake in SPX Technologies during the 2nd quarter worth approximately $1,189,365,000. Invesco Ltd. boosted its position in shares of SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors bought a new position in shares of SPX Technologies in the fourth quarter worth approximately $307,494,000. First Trust Advisors LP increased its stake in shares of SPX Technologies by 181.4% in the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after purchasing an additional 878,494 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of SPX Technologies by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after purchasing an additional 63,889 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Up 0.3%

SPX Technologies stock opened at $201.55 on Wednesday. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. The firm’s 50 day moving average price is $219.88 and its 200-day moving average price is $217.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The stock has a market cap of $10.10 billion, a P/E ratio of 36.25, a PEG ratio of 1.31 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. SPX Technologies’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, equities analysts predict that SPX Technologies, Inc. will post 8.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPXC. JPMorgan Chase & Co. lifted 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. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Wolfe Research reissued an “outperform” rating and set a $266.00 price target on shares of SPX Technologies in a report on Thursday, July 9th. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Buy” and a consensus price target of $266.67.

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.