Two Sigma Securities LLC Buys Shares of 4,905 SPX Technologies, Inc. $SPXC

Two Sigma Securities LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,905 shares of the company’s stock, valued at approximately $1,203,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SPX Technologies by 14.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 121,589 shares of the company’s stock valued at $29,810,000 after buying an additional 15,524 shares during the period. Hsbc Holdings PLC lifted its stake in SPX Technologies by 181.2% during the 2nd quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock worth $2,222,000 after acquiring an additional 5,868 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new position in SPX Technologies during the 2nd quarter valued at about $1,989,000. Equitable Holdings Inc. purchased a new position in SPX Technologies during the 2nd quarter valued at about $207,000. Finally, Jefferies Financial Group Inc. acquired a new position in SPX Technologies in the 2nd quarter valued at about $2,078,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 target price on shares of SPX Technologies in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $196.48 on Tuesday. 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, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08. The firm’s 50 day moving average is $216.61 and its two-hundred day moving average is $216.78. The firm has a market capitalization of $9.84 billion, a P/E ratio of 35.34, a P/E/G ratio of 1.30 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same quarter in the previous year, the firm earned $1.65 EPS. The company’s revenue 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. Research analysts forecast that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal year.

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.