Panagora Asset Management Inc. Has $40.67 Million Position in SPX Technologies, Inc. $SPXC

Panagora Asset Management Inc. increased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,280 shares of the company’s stock after acquiring an additional 7,361 shares during the period. Panagora Asset Management Inc. owned about 0.41% of SPX Technologies worth $40,668,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in SPX Technologies by 4.6% during the third 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 in the last quarter. Invesco Ltd. raised its holdings in SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after acquiring an additional 722,039 shares in the last quarter. Capital International Investors bought a new stake in SPX Technologies during the fourth quarter worth about $307,494,000. Geode Capital Management LLC raised its holdings 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 worth $242,874,000 after acquiring an additional 63,889 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock worth $124,695,000 after acquiring an additional 2,631 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

SPXC has been the topic of several analyst reports. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Oppenheimer upped their target price on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Wells Fargo & Company upped their target price on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, BMO Capital Markets began coverage on SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, SPX Technologies currently has an average rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Price Performance

NYSE:SPXC opened at $236.30 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $215.38 and its two-hundred day moving average price is $214.13. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 1.69 and a beta of 1.28. SPX Technologies, Inc. has a 12-month low of $152.79 and a 12-month high of $246.68.

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