Commerce Bank acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,029 shares of the company's stock, valued at approximately $1,233,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC bought a new position in SPX Technologies in the 1st quarter valued at approximately $1,000,000. Oppenheimer Asset Management Inc. bought a new stake in shares of SPX Technologies in the 2nd quarter worth $4,903,000. Principal Financial Group Inc. raised its stake in shares of SPX Technologies by 4.1% in the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company's stock worth $89,060,000 after purchasing an additional 17,524 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SPX Technologies by 13.0% in the first quarter. Bank of America Corp DE now owns 316,883 shares of the company's stock worth $63,358,000 after purchasing an additional 36,340 shares during the last quarter. Finally, Inceptionr LLC lifted its holdings in shares of SPX Technologies by 101.6% during the fourth quarter. Inceptionr LLC now owns 5,691 shares of the company's stock valued at $1,139,000 after purchasing an additional 2,868 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.
SPX Technologies Stock Up 0.3%
SPX Technologies stock opened at $201.55 on Wednesday. SPX Technologies, Inc. has a one year low of $179.62 and a one year high of $251.08. The stock has a fifty day moving average of $219.88 and a 200 day moving average of $217.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The stock has a market cap of $10.10 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.
SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to analysts' expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 8.47 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. B. Riley Financial lifted their price objective on SPX Technologies from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Truist Financial restated a "buy" rating and set a $301.00 target price (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Zacks Research upgraded shares of SPX Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $266.67.
Read Our Latest Stock Analysis on SPX Technologies
SPX Technologies Company Profile
(
Free Report)
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.
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