Freestone Grove Partners LP Takes $35.73 Million Position in SPX Technologies, Inc. $SPXC

Key Points

• Freestone Grove Partners acquired 145,716 shares of SPX Technologies worth approximately $35.73 million, representing about 0.29% of the company. Institutional investors collectively own 92.82% of SPXC.
• SPX Technologies exceeded quarterly expectations, reporting $2.02 in EPS versus the $1.85 consensus and $679 million in revenue versus $640.18 million expected. Revenue increased 22.9% year over year, and management issued fiscal 2026 EPS guidance of $8.20–$8.60.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $266.67, compared with the reported trading price of $205.28.

Freestone Grove Partners LP bought a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 145,716 shares of the company's stock, valued at approximately $35,725,000. Freestone Grove Partners LP owned about 0.29% of SPX Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SPXC. Royal Bank of Canada increased its holdings in shares of SPX Technologies by 8.1% during the first quarter. Royal Bank of Canada now owns 38,386 shares of the company's stock worth $4,942,000 after buying an additional 2,892 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock worth $2,670,000 after acquiring an additional 8,854 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company's stock worth $10,725,000 after acquiring an additional 56,799 shares in the last quarter. NewEdge Advisors LLC grew its position in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock worth $80,000 after acquiring an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company's stock valued at $24,742,000 after purchasing an additional 3,353 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Trading Up 2.1%

SPXC stock opened at $205.28 on Thursday. The company has a market cap of $10.28 billion, a P/E ratio of 36.92, a PEG ratio of 1.31 and a beta of 1.27. SPX Technologies, Inc. has a twelve month low of $179.62 and a twelve month high of $251.08. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $219.26 and a 200-day moving average of $217.33.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPXC. Weiss Ratings reiterated a "buy (b-)" rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Wells Fargo & Company restated an "overweight" rating and set a $250.00 target price on shares of SPX Technologies in a report on Monday, August 3rd. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Wolfe Research reiterated an "outperform" rating and set a $266.00 price target on shares of SPX Technologies in a research report on Thursday, July 9th. Finally, Oppenheimer restated an "outperform" rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, nine have given 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 a consensus target price of $266.67.

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.

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