California State Teachers Retirement System lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,692 shares of the company's stock after selling 1,547 shares during the period. California State Teachers Retirement System owned 0.11% of SPX Technologies worth $13,899,178 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. AlphaGrep UK Ltd acquired a new stake in SPX Technologies during the 2nd quarter valued at $387,000. TD Waterhouse Canada Inc. raised its holdings in shares of SPX Technologies by 13.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 30,323 shares of the company's stock valued at $7,030,000 after purchasing an additional 3,642 shares in the last quarter. AXQ Capital LP bought a new position in SPX Technologies during the second quarter valued at about $223,000. Nykredit A S acquired a new stake in shares of SPX Technologies in the second quarter valued at $440,000. Finally, Grandeur Peak Global Advisors LLC grew its holdings in shares of SPX Technologies by 27.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 8,113 shares of the company's stock valued at $1,989,000 after buying an additional 1,736 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Truist Financial reissued a "buy" rating and issued a $301.00 target price (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Weiss Ratings upgraded SPX Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Wolfe Research reaffirmed an "outperform" rating and set a $250.00 price objective on shares of SPX Technologies in a research note on Tuesday. Finally, Oppenheimer restated an "outperform" rating and set a $280.00 target price (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 given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $264.89.
View Our Latest Analysis on SPXC
SPX Technologies Price Performance
Shares of SPXC traded down $5.28 during trading hours on Tuesday, hitting $177.91. The stock had a trading volume of 194,706 shares, compared to its average volume of 549,279. The company's fifty day moving average is $208.00 and its two-hundred day moving average is $213.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.25 and a beta of 1.27. SPX Technologies, Inc. has a 52 week low of $177.76 and a 52 week high of $251.08.
SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same period in the prior year, the firm earned $1.65 earnings per share. The company's revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, analysts anticipate that SPX Technologies, Inc. will post 8.47 EPS for the current year.
About SPX Technologies
(
Free Report)
SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.
SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.
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