35,088 Shares in SPX Technologies, Inc. $SPXC Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,088 shares of the company’s stock, valued at approximately $8,603,000.

Several other large investors also recently bought and sold shares of the company. Group One Trading LLC acquired a new position in shares of SPX Technologies during the second quarter valued at approximately $32,000. Hazlett Burt & Watson Inc. increased its position in shares of SPX Technologies by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after purchasing an additional 85 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in SPX Technologies in the 2nd quarter valued at $47,000. Hantz Financial Services Inc. raised its stake in SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in SPX Technologies in the 1st quarter valued at $51,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

NYSE:SPXC opened at $198.26 on Friday. The company’s 50-day moving average is $217.60 and its two-hundred day moving average is $217.07. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 1.30 and a beta of 1.27.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPXC shares. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Truist Financial restated a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $266.00 price target on shares of SPX Technologies in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.