BlackRock Inc. Acquires New Position in SPX Technologies, Inc. $SPXC

Key Points

• BlackRock acquired 4.85 million shares of SPX Technologies in the second quarter, valued at approximately $1.19 billion and representing a 9.68% stake. Institutional investors collectively own 92.82% of the company.
• SPX Technologies exceeded quarterly expectations, reporting $2.02 in EPS versus the $1.85 consensus and revenue of $679 million versus $640.18 million expected. Revenue increased 22.9% year over year, and fiscal 2026 EPS guidance is $8.20–$8.60.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and an average price target of $266.67, compared with the stock’s reported $206.52 opening price.

BlackRock Inc. acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,851,185 shares of the company's stock, valued at approximately $1,189,365,000. BlackRock Inc. owned approximately 9.68% of SPX Technologies at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in shares of SPX Technologies during the 4th quarter valued at about $37,000. Hazlett Burt & Watson Inc. increased its holdings in SPX Technologies by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company's stock valued at $47,000 after buying an additional 85 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SPX Technologies in the second quarter worth approximately $47,000. Hantz Financial Services Inc. raised its position in SPX Technologies by 21.4% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company's stock worth $51,000 after acquiring an additional 45 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of SPX Technologies during the 1st quarter worth $51,000. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

SPXC stock opened at $206.52 on Friday. SPX Technologies, Inc. has a twelve month low of $179.62 and a twelve month high of $251.08. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 1.33 and a beta of 1.27. The business's fifty day simple moving average is $221.25 and its two-hundred day simple moving average is $217.57. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPXC. Weiss Ratings restated a "buy (b-)" rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Zacks Research raised SPX Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Truist Financial restated a "buy" rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. B. Riley Financial raised their price objective on SPX Technologies from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, SPX Technologies presently has a consensus rating of "Buy" and a consensus target price of $266.67.

About SPX Technologies

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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