2,553 Shares in SPX Technologies, Inc. $SPXC Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in SPX Technologies, Inc. (NYSE:SPXC) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 2,553 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors bought a new position in shares of SPX Technologies during the fourth quarter worth about $307,494,000. Invesco Ltd. lifted its position in SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Norges Bank acquired a new position in SPX Technologies during the 4th quarter valued at about $123,721,000. ArrowMark Colorado Holdings LLC bought a new position in SPX Technologies in the 4th quarter worth about $34,898,000. Finally, HRT Financial LP bought a new position in SPX Technologies in the 4th quarter worth about $31,218,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

SPXC opened at $214.01 on Thursday. The business has a 50 day moving average price of $221.94 and a two-hundred day moving average price of $216.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 41.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. SPX Technologies, Inc. has a 1-year low of $169.18 and a 1-year high of $251.08.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results 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. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. During the same period last year, the firm earned $1.38 EPS. The firm’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. Research analysts predict that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPXC. Truist Financial lifted their price target on SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 target price on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $253.22.

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.