Legal & General Group Plc bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 65,530 shares of the company's stock, valued at approximately $16,066,000. Legal & General Group Plc owned approximately 0.13% of SPX Technologies at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in SPX Technologies during the first quarter worth $1,000,000. Oppenheimer Asset Management Inc. bought a new stake in SPX Technologies in the second quarter valued at $4,903,000. Principal Financial Group Inc. raised its holdings 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 during the period. Bank of America Corp DE raised its holdings in shares of SPX Technologies by 13.0% during the first quarter. Bank of America Corp DE now owns 316,883 shares of the company's stock valued at $63,358,000 after purchasing an additional 36,340 shares during the period. Finally, Inceptionr LLC boosted its position in shares of SPX Technologies by 101.6% during the 4th quarter. Inceptionr LLC now owns 5,691 shares of the company's stock worth $1,139,000 after purchasing an additional 2,868 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.
SPX Technologies Price Performance
Shares of NYSE SPXC opened at $198.26 on Monday. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 1.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies, Inc. has a fifty-two week low of $179.62 and a fifty-two week high of $251.08. The firm's 50-day simple moving average is $217.60 and its 200 day simple moving average is $217.03.
SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $640.18 million. During the same period in the prior year, the business posted $1.65 earnings per share. The company'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, research analysts anticipate that SPX Technologies, Inc. will post 8.47 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on SPXC shares. B. Riley Financial boosted their target price on SPX Technologies from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 price target on shares of SPX Technologies in a report on Monday, August 3rd. Weiss Ratings reissued a "buy (b-)" rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $266.00 target price on shares of SPX Technologies in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $266.67.
Check Out 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.
Further Reading
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