Moore Capital Management LP Acquires Shares of 67,901 SPX Technologies, Inc. $SPXC

Moore Capital Management LP acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 67,901 shares of the company’s stock, valued at approximately $12,683,000.

Other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC raised its position in shares of SPX Technologies by 12.3% in the 3rd quarter. Lido Advisors LLC now owns 3,054 shares of the company’s stock valued at $570,000 after purchasing an additional 334 shares in the last quarter. Lighthouse Investment Partners LLC grew its position in shares of SPX Technologies by 15.3% during the third quarter. Lighthouse Investment Partners LLC now owns 28,832 shares of the company’s stock worth $5,385,000 after buying an additional 3,826 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of SPX Technologies in the third quarter worth $504,000. Brevan Howard Capital Management LP bought a new stake in shares of SPX Technologies in the third quarter worth $344,000. Finally, Bridgefront Capital LLC acquired a new stake in SPX Technologies in the third quarter valued at $620,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. B. Riley Financial reiterated a “buy” rating and set a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price target for the company. Finally, Truist Financial boosted their price objective on SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a report on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.63.

SPX Technologies Stock Up 2.0%

SPX Technologies stock opened at $203.37 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $246.68. The company has a 50-day simple moving average of $219.37 and a 200-day simple moving average of $206.76. The firm has a market capitalization of $10.14 billion, a P/E ratio of 40.59, a P/E/G ratio of 1.53 and a beta of 1.30.

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