Gradient Investments LLC Buys Shares of 3,346 SPX Technologies, Inc. $SPXC

Gradient Investments LLC bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,346 shares of the company’s stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Invesco Ltd. boosted its stake in SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after acquiring an additional 722,039 shares during the last quarter. Capital International Investors bought a new position in shares of SPX Technologies in the 4th quarter worth $307,494,000. First Trust Advisors LP grew its stake in shares of SPX Technologies by 181.4% during 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 during the period. Geode Capital Management LLC increased its holdings in SPX Technologies by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after purchasing an additional 63,889 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in SPX Technologies by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock worth $235,368,000 after buying an additional 84,117 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Trading Up 0.3%

Shares of NYSE:SPXC opened at $216.23 on Monday. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.41 and a beta of 1.27. SPX Technologies, Inc. has a 12 month low of $179.62 and a 12 month high of $251.08. The company’s fifty day simple moving average is $224.68 and its 200 day simple moving average is $217.70. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last announced 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. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same period in the prior year, the business earned $1.65 EPS. The company’s revenue for the quarter 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. As a group, research analysts forecast that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPXC. B. Riley Financial increased their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. Wolfe Research reaffirmed an “outperform” rating and set a $266.00 price objective on shares of SPX Technologies in a research note on Thursday, July 9th. Oppenheimer reissued an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Finally, Zacks Research raised SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Buy” and an average target price of $266.67.

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.