New Mexico Educational Retirement Board Takes Position in SPX Technologies, Inc. $SPXC

New Mexico Educational Retirement Board acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,200 shares of the company’s stock, valued at approximately $2,041,000.

Several other large investors have also modified their holdings of SPXC. Invesco Ltd. boosted its holdings in shares of 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 acquiring an additional 722,039 shares during the period. Norges Bank acquired a new stake in shares of SPX Technologies in the fourth quarter valued at approximately $123,721,000. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 232,436 shares during the period. AustralianSuper Pty Ltd acquired a new stake in shares of SPX Technologies in the third quarter valued at approximately $41,092,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 160,162 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $240.00 to $280.00 in a report on Friday, February 13th. JPMorgan Chase & Co. increased their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Trading Up 2.3%

Shares of SPXC stock opened at $221.66 on Tuesday. SPX Technologies, Inc. has a fifty-two week low of $150.81 and a fifty-two week high of $246.68. The stock has a market cap of $11.10 billion, a P/E ratio of 43.38, a P/E/G ratio of 1.59 and a beta of 1.31. The business has a fifty day simple moving average of $208.67 and a 200-day simple moving average of $212.59. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter last year, the business posted $1.38 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share 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.