Connor Clark & Lunn Investment Management Ltd. Purchases New Position in SPX Technologies, Inc. $SPXC

Key Points

• Connor Clark & Lunn Investment Management acquired 20,990 shares of SPX Technologies in the second quarter, valued at approximately $5.1 million. Institutional investors collectively own 92.82% of the company.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $266.67; Truist raised its target to $301, while Wells Fargo and JPMorgan maintained overweight ratings.
• SPX Technologies exceeded quarterly expectations, reporting $2.02 in EPS versus the $1.85 estimate and $679 million in revenue, up 22.9% year over year. The company provided fiscal 2026 EPS guidance of $8.20 to $8.60.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,990 shares of the company's stock, valued at approximately $5,146,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPXC. BlackRock Inc. bought a new position in shares of SPX Technologies during the second quarter valued at $1,189,365,000. Invesco Ltd. boosted its position in shares of SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock valued at $351,000,000 after buying an additional 722,039 shares during the last quarter. Capital International Investors bought a new stake in SPX Technologies in the 4th quarter worth about $307,494,000. First Trust Advisors LP increased its holdings in SPX Technologies by 181.4% in the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company's stock worth $272,492,000 after buying an additional 878,494 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock worth $242,874,000 after buying an additional 63,889 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 price target on shares of SPX Technologies in a report on Monday, August 3rd. Truist Financial reissued a "buy" rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Weiss Ratings restated a "buy (b-)" rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $266.67.

SPX Technologies Stock Down 0.2%

SPXC stock opened at $205.26 on Friday. SPX Technologies, Inc. has a fifty-two week low of $179.62 and a fifty-two week high of $251.08. The business's 50-day moving average is $218.50 and its two-hundred day moving average is $217.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 36.92, a P/E/G ratio of 1.34 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same period in the previous year, the company posted $1.65 EPS. The business's quarterly revenue was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts forecast that SPX Technologies, Inc. will post 8.47 earnings per share for the current year.

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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