Bessemer Group Inc. Has $8.52 Million Stock Position in SPX Technologies, Inc. $SPXC

Key Points

• Bessemer Group Inc. cut its SPX Technologies stake by 65.5% in the first quarter, leaving it with 42,612 shares valued at about $8.52 million.
• SPX Technologies reported stronger-than-expected first-quarter results, with EPS of $1.69 versus the $1.55 estimate and revenue of $566.8 million, up 17.4% year over year.
• Analyst sentiment remains constructive, with 10 Buy ratings and an average price target of $254.50; the stock opened at $211.85 and was up 0.1% on the day.

Bessemer Group Inc. reduced its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 65.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,612 shares of the company's stock after selling 80,930 shares during the period. Bessemer Group Inc. owned about 0.08% of SPX Technologies worth $8,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPXC. Ares Financial Consulting LLC acquired a new stake in shares of SPX Technologies during the fourth quarter worth approximately $37,000. Flagship Harbor Advisors LLC bought a new position in shares of SPX Technologies in the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC acquired a new position in shares of SPX Technologies in the 4th quarter worth approximately $45,000. Hazlett Burt & Watson Inc. boosted its holdings 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 worth $47,000 after acquiring an additional 85 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in SPX Technologies during the 1st quarter worth approximately $51,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Up 0.1%

NYSE:SPXC opened at $211.85 on Monday. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 41.46, a P/E/G ratio of 1.56 and a beta of 1.27. 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 stock's fifty day moving average price is $222.72 and its two-hundred day moving average price is $217.19. SPX Technologies, Inc. has a 52-week low of $171.31 and a 52-week high of $251.08.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million during the quarter, compared to analysts' expectations of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, analysts anticipate that SPX Technologies, Inc. will post 7.98 EPS for the current year.

Analyst Upgrades and Downgrades

SPXC has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of SPX Technologies in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their target price on SPX Technologies from $225.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Wall Street Zen lowered SPX Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, BMO Capital Markets began coverage on SPX Technologies in a report on Friday, March 27th. They issued an "outperform" rating and a $243.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, SPX Technologies presently has an average rating of "Moderate Buy" and a consensus price target 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.

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