Principal Financial Group Inc. Sells 122,953 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Principal Financial Group trimmed its stake in SPX Technologies by 22.3%, selling 122,953 shares and leaving it with 427,910 shares worth about $85.6 million (≈0.86% of the company).
• SPX beat Q1 estimates, reporting $1.69 EPS vs. $1.55 expected and revenue of $566.8M (up 17.4% YoY), and set FY2026 guidance of 7.75–8.15 EPS (analysts forecast 7.95).
• Analysts are largely bullish—nine Buy and one Hold for a consensus "Moderate Buy" and an average target of $249.44—while institutional ownership is high at 92.82%.

Principal Financial Group Inc. trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 427,910 shares of the company's stock after selling 122,953 shares during the quarter. Principal Financial Group Inc. owned approximately 0.86% of SPX Technologies worth $85,608,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SPXC. Hazlett Burt & Watson Inc. purchased a new position in shares of SPX Technologies during the third quarter valued at approximately $28,000. Cullen Frost Bankers Inc. lifted its holdings in shares of SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company's stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company's stock valued at $30,000 after purchasing an additional 84 shares during the last quarter. Ares Financial Consulting LLC purchased a new position in shares of SPX Technologies during the fourth quarter valued at approximately $37,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of SPX Technologies during the fourth quarter valued at approximately $40,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Up 2.5%

Shares of SPXC stock opened at $212.90 on Thursday. The stock has a market cap of $10.68 billion, a P/E ratio of 41.66, a PEG ratio of 1.53 and a beta of 1.31. SPX Technologies, Inc. has a 52 week low of $147.39 and a 52 week high of $246.68. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company's fifty day simple moving average is $211.28 and its two-hundred day simple moving average is $212.32.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm had revenue of $566.80 million for the quarter, compared to analysts' expectations of $557.62 million. During the same period in the prior year, the company earned $1.38 EPS. The business's revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Analysts predict that SPX Technologies, Inc. will post 7.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SPXC shares. BMO Capital Markets started coverage on shares of SPX Technologies in a report on Friday, March 27th. They set an "outperform" rating and a $243.00 target price for the company. Wells Fargo & Company lifted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Truist Financial boosted their price objective on shares of SPX Technologies from $251.00 to $261.00 and gave the stock a "buy" rating in a report on Monday. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $249.44.

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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