BlueCrest Capital Management Ltd Purchases New Stake in SPX Technologies, Inc. $SPXC

BlueCrest Capital Management Ltd purchased a new position in SPX Technologies, Inc. (NYSE:SPXC) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,699 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds have also recently modified their holdings of SPXC. Vanguard Group Inc. raised its stake in shares of SPX Technologies by 4.6% during 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 last quarter. Invesco Ltd. grew its stake 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 worth $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Geode Capital Management LLC increased its holdings in SPX Technologies by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock valued at $182,211,000 after purchasing an additional 17,735 shares during the period. Alliancebernstein L.P. raised its position in SPX Technologies by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after purchasing an additional 2,631 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SPX Technologies by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after buying an additional 14,941 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on SPX Technologies in a research note on Wednesday, March 4th. They set an “overweight” rating and a $260.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Wells Fargo & Company boosted their price objective on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. B. Riley Financial restated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Finally, Oppenheimer raised their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $250.63.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $204.55 on Wednesday. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $246.68. The firm has a market capitalization of $10.20 billion, a P/E ratio of 40.83, a P/E/G ratio of 1.56 and a beta of 1.30. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $219.28 and a two-hundred day simple moving average of $206.88.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm had revenue of $637.30 million for the quarter, compared to analysts’ expectations of $625.98 million. During the same period in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.