Oppenheimer Asset Management Inc. Takes $4.90 Million Position in SPX Technologies, Inc. $SPXC

Oppenheimer Asset Management Inc. bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,998 shares of the company’s stock, valued at approximately $4,903,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $37,000. Hazlett Burt & Watson Inc. lifted its position in shares of SPX Technologies by 56.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after buying an additional 85 shares during the period. Hantz Financial Services Inc. lifted its position in shares of SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after buying an additional 45 shares during the period. Summit Securities Group LLC acquired a new stake in SPX Technologies in the 1st quarter valued at $51,000. Finally, First Horizon Corp grew its position in SPX Technologies by 168.8% in the fourth quarter. First Horizon Corp now owns 293 shares of the company’s stock valued at $59,000 after acquiring an additional 184 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

SPXC has been the subject of a number of analyst reports. Wolfe Research reissued an “outperform” rating and set a $266.00 price objective on shares of SPX Technologies in a report on Thursday, July 9th. Truist Financial reaffirmed a “buy” rating and issued a $301.00 target price (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. B. Riley Financial increased their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Zacks Research raised shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. 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 stock. According to MarketBeat, SPX Technologies currently has a consensus rating of “Buy” and an average target price of $266.67.

SPX Technologies Price Performance

Shares of SPXC stock opened at $217.12 on Friday. The stock’s fifty day moving average is $223.22 and its 200-day moving average is $217.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The stock has a market capitalization of $10.88 billion, a PE ratio of 39.05, a PEG ratio of 1.42 and a beta of 1.27. SPX Technologies, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities research analysts expect that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal 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.