Candriam S.C.A. Purchases New Shares in SPX Technologies, Inc. $SPXC

Key Points

• Candriam S.C.A. disclosed a new first-quarter stake in SPX Technologies, buying 9,312 shares valued at about $1.86 million.
• SPX Technologies reported better-than-expected Q1 earnings of $1.69 per share on revenue of $566.8 million, with sales up 17.4% year over year.
• Analyst sentiment remains positive, with 10 Buy ratings and 1 Hold; the consensus target price is $254.50, above the stock’s recent trading level.

Candriam S.C.A. acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,312 shares of the company's stock, valued at approximately $1,862,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its stake in shares of SPX Technologies by 21.4% during the 4th 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. Lido Advisors LLC raised its stake in SPX Technologies by 1.6% in the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company's stock worth $586,000 after buying an additional 50 shares in the last quarter. Intrust Bank NA raised its stake in SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company's stock worth $332,000 after buying an additional 58 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in SPX Technologies by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company's stock worth $286,000 after buying an additional 60 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in SPX Technologies by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company's stock worth $188,000 after buying an additional 62 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

SPX Technologies stock opened at $217.79 on Wednesday. SPX Technologies, Inc. has a twelve month low of $169.18 and a twelve month high of $251.08. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.90 billion, a P/E ratio of 42.62, a PEG ratio of 1.58 and a beta of 1.27. The stock's 50 day moving average is $222.24 and its 200 day moving average is $217.03.

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, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same period in the previous year, the company posted $1.38 earnings per share. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities research analysts predict that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SPXC. B. Riley Financial reiterated a "buy" rating on shares of SPX Technologies in a report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on SPX Technologies from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. BMO Capital Markets started coverage on SPX Technologies in a research report on Friday, March 27th. They set an "outperform" rating and a $243.00 price target on the stock. Wolfe Research reaffirmed an "outperform" rating and issued a $266.00 price target on shares of SPX Technologies in a research note on Thursday, July 9th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of SPX Technologies in a report on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.50.

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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