Lazard Asset Management LLC reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 81.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,425 shares of the company's stock after selling 6,348 shares during the period. Lazard Asset Management LLC's holdings in SPX Technologies were worth $285,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of SPXC. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in SPX Technologies by 46.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company's stock worth $14,854,000 after acquiring an additional 23,439 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of SPX Technologies by 4.1% during the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company's stock valued at $89,060,000 after purchasing an additional 17,524 shares in the last quarter. State of Michigan Retirement System bought a new position in shares of SPX Technologies during the fourth quarter valued at about $2,361,000. Inceptionr LLC boosted its holdings in SPX Technologies by 101.6% during the fourth quarter. Inceptionr LLC now owns 5,691 shares of the company's stock worth $1,139,000 after purchasing an additional 2,868 shares during the last quarter. Finally, State of Wyoming grew its position in SPX Technologies by 226.2% in the 4th quarter. State of Wyoming now owns 3,340 shares of the company's stock worth $668,000 after purchasing an additional 2,316 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.
SPX Technologies Stock Performance
NYSE:SPXC opened at $216.23 on Friday. The company has a market capitalization of $10.83 billion, a P/E ratio of 38.89, a P/E/G ratio of 1.40 and a beta of 1.27. The business has a fifty day simple moving average of $224.68 and a two-hundred day simple moving average of $217.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08.
SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.02 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 firm had revenue of $679.00 million for the quarter, compared to analysts' expectations of $640.18 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The business's revenue for the quarter 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. On average, analysts expect that SPX Technologies, Inc. will post 8.47 earnings per share for the current year.
Analysts Set New Price Targets
SPXC has been the subject of several analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of SPX Technologies in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their target price on SPX Technologies from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. B. Riley Financial increased their price target on SPX Technologies from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Oppenheimer reiterated an "outperform" rating and set a $280.00 price target (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Finally, Zacks Research raised SPX Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $266.67.
Read Our Latest Analysis on SPX Technologies
SPX Technologies Profile
(
Free Report)
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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