Earnest Partners LLC Sells 44,713 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Earnest Partners trimmed its stake in SPX Technologies by 5.1%, selling 44,713 shares and leaving it with 825,971 shares (about 1.66% of the company) worth roughly $154.3 million.
• Other large investors increased positions—Vanguard now owns 5.30 million shares and Invesco added 722,039 shares—leaving institutional investors with about 92.82% ownership of the stock.
• Analysts have been raising targets (Oppenheimer $272, JPMorgan overweight at $260) and the stock has a consensus rating of Moderate Buy with an average target of $250.63; SPX recently beat quarterly EPS and revenue and set FY2026 guidance of $7.60–$8.00 EPS.

Earnest Partners LLC reduced its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 825,971 shares of the company's stock after selling 44,713 shares during the quarter. Earnest Partners LLC owned approximately 1.66% of SPX Technologies worth $154,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of SPX Technologies by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company's stock worth $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. raised its stake in SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock valued at $351,000,000 after acquiring an additional 722,039 shares during the period. Geode Capital Management LLC raised its stake in SPX Technologies by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company's stock valued at $182,211,000 after acquiring an additional 17,735 shares during the period. Alliancebernstein L.P. lifted its holdings in SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company's stock valued at $124,695,000 after purchasing an additional 2,631 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in SPX Technologies by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company's stock worth $109,127,000 after purchasing an additional 14,941 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SPXC. Oppenheimer lifted their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Weiss Ratings restated a "buy (b)" rating on shares of SPX Technologies in a research note on Monday, December 29th. B. Riley Financial reaffirmed a "buy" rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Truist Financial lifted their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the company a "hold" rating in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. assumed coverage on SPX Technologies in a research report on Wednesday, March 4th. They set an "overweight" rating and a $260.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $250.63.

SPX Technologies Stock Down 1.7%

SPXC stock opened at $199.21 on Friday. The stock has a 50-day simple moving average of $219.41 and a two-hundred day simple moving average of $206.57. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $246.68. The firm has a market capitalization of $9.94 billion, a PE ratio of 39.76, a PEG ratio of 1.53 and a beta of 1.30. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. The company had revenue of $637.30 million during the quarter, compared to analyst estimates of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. SPX Technologies's revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, equities analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

SPX Technologies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.