Squarepoint Ops LLC Invests $14.19 Million in SPX Technologies, Inc. $SPXC

Squarepoint Ops LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,893 shares of the company’s stock, valued at approximately $14,194,000. Squarepoint Ops LLC owned approximately 0.12% of SPX Technologies at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Waverly Advisors LLC lifted its holdings in SPX Technologies by 4.0% during the 2nd quarter. Waverly Advisors LLC now owns 4,262 shares of the company’s stock worth $1,045,000 after buying an additional 164 shares during the last quarter. Nykredit A S acquired a new stake in shares of SPX Technologies during the 2nd quarter worth about $440,000. Corient Private Wealth LP raised its position in shares of SPX Technologies by 98.5% during the 2nd quarter. Corient Private Wealth LP now owns 4,510 shares of the company’s stock worth $1,106,000 after acquiring an additional 2,238 shares in the last quarter. Amundi lifted its stake in SPX Technologies by 31.2% during the second quarter. Amundi now owns 324,732 shares of the company’s stock worth $79,645,000 after purchasing an additional 77,148 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in SPX Technologies in the second quarter valued at approximately $809,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SPXC shares. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a research note on Monday, August 3rd. Truist Financial reissued a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of SPX Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Finally, B. Riley Financial raised their price objective on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Trading Down 2.2%

Shares of SPX Technologies stock opened at $192.84 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The company has a market capitalization of $9.66 billion, a P/E ratio of 34.68, a PEG ratio of 1.29 and a beta of 1.27. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. The company’s fifty day moving average is $210.51 and its two-hundred day moving average is $214.63.

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