Retirement Systems of Alabama Buys Shares of 86,512 SPX Technologies, Inc. $SPXC

Retirement Systems of Alabama bought a new position in SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 86,512 shares of the company’s stock, valued at approximately $17,308,000. Retirement Systems of Alabama owned approximately 0.17% of SPX Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Kennedy Capital Management LLC grew its position in shares of SPX Technologies by 271.0% in the 2nd quarter. Kennedy Capital Management LLC now owns 70,191 shares of the company’s stock worth $11,770,000 after buying an additional 51,273 shares during the last quarter. Principal Financial Group Inc. lifted its position in SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after acquiring an additional 55,482 shares during the last quarter. Moody Aldrich Partners LLC boosted its stake in SPX Technologies by 18.8% in the third quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock valued at $6,252,000 after acquiring an additional 5,290 shares in the last quarter. Emerald Advisers LLC boosted its stake in SPX Technologies by 13.6% in the third quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock valued at $28,672,000 after acquiring an additional 18,403 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in SPX Technologies by 36.6% in the third quarter. Voya Investment Management LLC now owns 186,359 shares of the company’s stock worth $34,808,000 after purchasing an additional 49,884 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 2.1%

Shares of NYSE:SPXC opened at $204.13 on Thursday. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $246.68. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 1.53 and a beta of 1.30. The business has a 50-day moving average price of $216.19 and a 200-day moving average price of $207.63.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The company had revenue of $637.30 million for the quarter, compared to the consensus estimate of $625.98 million. During the same quarter in the prior year, the company earned $1.51 EPS. SPX Technologies’s quarterly revenue was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on SPXC shares. Truist Financial upgraded SPX Technologies from a “hold” rating to a “buy” rating and decreased their price objective for the company from $244.00 to $243.00 in a report on Friday, March 27th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $280.00 in a report on Friday, February 13th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and an average target price of $244.67.

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.