8,476 Shares in SPX Technologies, Inc. $SPXC Acquired by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group acquired 8,476 shares of SPX Technologies in the second quarter, valued at approximately $2.08 million. Institutional investors and hedge funds collectively own 92.82% of the company.
• Analysts remain bullish, with one Strong Buy, nine Buy, and one Hold rating. The stock has an average price target of $266.67, representing potential upside from its reported $198.26 opening price.
• SPX Technologies exceeded quarterly expectations, reporting $2.02 in earnings per share versus the $1.85 consensus and revenue of $679 million versus estimates of $640.18 million; quarterly revenue increased 22.9% year over year.

Jefferies Financial Group Inc. acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,476 shares of the company's stock, valued at approximately $2,078,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company's stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of SPX Technologies by 1.6% during the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company's stock worth $586,000 after acquiring an additional 50 shares in the last quarter. Intrust Bank NA boosted its stake in shares of SPX Technologies by 3.6% during the 4th quarter. Intrust Bank NA now owns 1,660 shares of the company's stock worth $332,000 after acquiring an additional 58 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of SPX Technologies by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company's stock valued at $286,000 after acquiring an additional 60 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of SPX Technologies by 7.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company's stock valued at $188,000 after purchasing an additional 62 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPXC shares. Truist Financial reiterated a "buy" rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price target on shares of SPX Technologies in a research note on Monday, August 3rd. B. Riley Financial upped their price objective on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, SPX Technologies has an average rating of "Buy" and an average target price of $266.67.

SPX Technologies Stock Down 3.4%

NYSE SPXC opened at $198.26 on Friday. The business has a fifty day moving average price of $217.60 and a 200 day moving average price of $217.07. 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 company has a market cap of $9.93 billion, a P/E ratio of 35.66, a P/E/G ratio of 1.30 and a beta of 1.27. SPX Technologies, Inc. has a one year low of $179.62 and a one year high of $251.08.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. SPX Technologies's quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Research analysts anticipate that SPX Technologies, Inc. will post 8.47 EPS 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.

Want to see what other hedge funds are holding SPXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPX Technologies, Inc. (NYSE:SPXC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source