California Public Employees Retirement System lessened its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 19.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,785 shares of the company's stock after selling 16,069 shares during the quarter. California Public Employees Retirement System owned about 0.13% of SPX Technologies worth $13,353,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC bought a new stake in SPX Technologies during the fourth quarter worth $37,000. Flagship Harbor Advisors LLC acquired a new stake in SPX Technologies during the fourth quarter worth approximately $40,000. Sound Income Strategies LLC bought a new position in SPX Technologies during the 4th quarter worth $45,000. Hazlett Burt & Watson Inc. raised its holdings in 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 acquiring an additional 85 shares in the last quarter. Finally, 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 purchasing an additional 45 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on SPXC. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SPX Technologies in a report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Wolfe Research reaffirmed an "outperform" rating and issued a $266.00 target price on shares of SPX Technologies in a research report on Thursday, July 9th. Finally, Wall Street Zen cut SPX Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, SPX Technologies currently has an average rating of "Moderate Buy" and an average target price of $255.30.
Check Out Our Latest Stock Report on SPXC
SPX Technologies Price Performance
Shares of SPX Technologies stock opened at $220.27 on Friday. The firm has a market capitalization of $11.03 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. The business's 50-day moving average price is $224.30 and its 200-day moving average price is $217.64. SPX Technologies, Inc. has a 12 month low of $175.00 and a 12 month high of $251.08. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.
SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. During the same period in the prior year, the business posted $1.38 earnings per share. The company's revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Sell-side analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.
SPX Technologies Company Profile
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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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