SPX Technologies, Inc. $SPXC Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in SPX Technologies, Inc. (NYSE:SPXC) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,899 shares of the company’s stock after selling 8,486 shares during the period. Clearbridge Investments LLC’s holdings in SPX Technologies were worth $8,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. lifted 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 valued at $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Capital International Investors acquired a new stake in SPX Technologies during the fourth quarter valued at approximately $307,494,000. Geode Capital Management LLC lifted its stake in SPX Technologies by 5.6% during 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, Alliancebernstein L.P. lifted its stake in SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after purchasing an additional 2,631 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Down 1.8%

Shares of NYSE:SPXC opened at $223.96 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The company has a market cap of $11.21 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. SPX Technologies, Inc. has a 52 week low of $152.79 and a 52 week high of $246.68. The firm has a 50 day simple moving average of $213.39 and a 200 day simple moving average of $213.65.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate 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 firm earned $1.38 EPS. 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.

Analysts Set New Price Targets

SPXC has been the subject of several recent research reports. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Truist Financial increased 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. BMO Capital Markets initiated coverage on shares of SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.