Geode Capital Management LLC Buys 63,889 Shares of SPX Technologies, Inc. $SPXC

Geode Capital Management LLC increased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,213,809 shares of the company’s stock after acquiring an additional 63,889 shares during the period. Geode Capital Management LLC’s holdings in SPX Technologies were worth $242,874,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after buying an additional 232,436 shares during the period. Invesco Ltd. raised 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 buying an additional 722,039 shares during the period. Alliancebernstein L.P. raised its stake in SPX Technologies by 0.4% in the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the period. Principal Financial Group Inc. raised its stake in SPX Technologies by 11.2% in the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after buying an additional 55,482 shares during the period. Finally, GW&K Investment Management LLC raised its stake in SPX Technologies by 41.0% in the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after buying an additional 160,162 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Wells Fargo & Company upped their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets assumed coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $229.44 on Wednesday. The firm has a market cap of $11.49 billion, a P/E ratio of 44.90, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a 1-year low of $152.79 and a 1-year high of $246.68. The business’s 50 day moving average is $208.67 and its 200-day moving average is $212.59.

SPX Technologies (NYSE:SPXC) last announced its earnings results 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. The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities research analysts predict that SPX Technologies, Inc. will post 7.98 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.