Goldman Sachs Group Inc. Reduces Stake in SPX Technologies, Inc. $SPXC

Goldman Sachs Group Inc. lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 5.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 691,355 shares of the company’s stock after selling 38,277 shares during the quarter. Goldman Sachs Group Inc. owned about 1.39% of SPX Technologies worth $138,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SPXC. Royal Bank of Canada increased its holdings in shares of SPX Technologies by 8.1% in the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after acquiring an additional 2,892 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after purchasing an additional 8,854 shares during the period. Millennium Management LLC boosted its position in shares of SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after purchasing an additional 56,799 shares during the period. NewEdge Advisors LLC boosted its position in shares of SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after purchasing an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after purchasing an additional 3,353 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 1.0%

SPX Technologies stock opened at $230.09 on Tuesday. SPX Technologies, Inc. has a twelve month low of $152.79 and a twelve month high of $246.68. The stock has a 50 day moving average of $212.15 and a two-hundred day moving average of $213.32. 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 stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 45.03, a PEG ratio of 1.67 and a beta of 1.28.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same period last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, research analysts expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on SPXC shares. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Wells Fargo & Company upped their target price on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

About SPX Technologies

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.