Van Berkom & Associates Inc. Sells 20,339 Shares of SPX Technologies, Inc. $SPXC

Van Berkom & Associates Inc. lessened its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 6.2% during the 1st quarter, HoldingsChannel reports. The fund owned 306,506 shares of the company’s stock after selling 20,339 shares during the quarter. Van Berkom & Associates Inc.’s holdings in SPX Technologies were worth $61,283,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in SPX Technologies in the fourth quarter worth about $37,000. Flagship Harbor Advisors LLC acquired a new position in SPX Technologies during the 4th quarter valued at about $40,000. Sound Income Strategies LLC bought a new position in shares of SPX Technologies in the 4th quarter valued at about $45,000. Hazlett Burt & Watson Inc. boosted its stake in shares of SPX Technologies by 56.7% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after purchasing an additional 85 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of SPX Technologies during the 1st quarter worth approximately $51,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Up 0.1%

SPXC opened at $211.85 on Monday. The firm’s fifty day moving average is $222.72 and its two-hundred day moving average is $217.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The firm has a market cap of $10.61 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.27. SPX Technologies, Inc. has a twelve month low of $171.31 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. 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 posted $1.38 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities research analysts anticipate that SPX Technologies, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial raised their price objective on shares of SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $254.50.

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.