Connor Clark & Lunn Investment Management Ltd. Takes $5.15 Million Position in SPX Technologies, Inc. $SPXC

Connor Clark & Lunn Investment Management Ltd. acquired a new position in SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,990 shares of the company’s stock, valued at approximately $5,146,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SPX Technologies during the second quarter valued at about $47,000. Hazlett Burt & Watson Inc. raised its stake in shares of SPX Technologies by 56.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after buying an additional 85 shares during the period. Summit Securities Group LLC purchased a new position in shares of SPX Technologies during the 1st quarter valued at about $51,000. Hantz Financial Services Inc. lifted its position in shares of SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of SPX Technologies during the 2nd quarter valued at approximately $70,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 0.2%

Shares of SPXC opened at $205.26 on Friday. The business’s 50 day moving average is $218.50 and its 200 day moving average is $217.21. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 12-month low of $179.62 and a 12-month high of $251.08. The company has a market capitalization of $10.28 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 1.34 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results 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 return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same period in the prior year, the company posted $1.65 EPS. The firm’s revenue for the quarter 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 expect that SPX Technologies, Inc. will post 8.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SPXC. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Truist Financial restated a “buy” rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Oppenheimer restated an “outperform” rating and set a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $266.00 target price on shares of SPX Technologies in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Company 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.