Inspire Investing LLC Purchases 7,876 Shares of SPX Technologies, Inc. $SPXC

Inspire Investing LLC raised its position in SPX Technologies, Inc. (NYSE:SPXC) by 14,860.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,929 shares of the company’s stock after acquiring an additional 7,876 shares during the period. Inspire Investing LLC’s holdings in SPX Technologies were worth $1,585,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Capital International Investors bought a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $307,494,000. Invesco Ltd. boosted its stake in SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after buying an additional 722,039 shares in the last quarter. Norges Bank bought a new stake in SPX Technologies in the 4th quarter valued at $123,721,000. AustralianSuper Pty Ltd bought a new stake in SPX Technologies in the 3rd quarter valued at $41,092,000. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of SPX Technologies in the 4th quarter valued at $34,898,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPXC stock opened at $232.08 on Thursday. SPX Technologies, Inc. has a 12-month low of $168.61 and a 12-month high of $251.08. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $221.71 and a 200-day moving average of $216.40.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities research analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target on the stock. B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Finally, Wells Fargo & Company upped 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. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, 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.