Renaissance Technologies LLC Acquires Shares of 5,000 SPX Technologies, Inc. $SPXC

Key Points

• Renaissance Technologies initiated a position in SPX Technologies during the first quarter, buying 5,000 shares valued at approximately $1 million. Institutional investors and hedge funds collectively own 92.82% of the company.
• Analyst sentiment is broadly positive: SPX Technologies has a consensus “Buy” rating and an average price target of $266.67, with several firms recently raising targets or upgrading the stock.
• SPX Technologies exceeded quarterly expectations, reporting $2.02 in earnings per share versus a $1.85 estimate and $679 million in revenue, up 22.9% year over year. The company issued fiscal 2026 EPS guidance of $8.20 to $8.60.

Renaissance Technologies LLC acquired a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $1,000,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in SPX Technologies by 62.4% in the third 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. Capital International Investors acquired a new stake in shares of SPX Technologies during the 4th quarter valued at about $307,494,000. First Trust Advisors LP increased its stake in shares of SPX Technologies by 181.4% in the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company's stock valued at $272,492,000 after purchasing an additional 878,494 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock valued at $242,874,000 after purchasing an additional 63,889 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in SPX Technologies by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company's stock worth $235,368,000 after purchasing an additional 84,117 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of recent analyst reports. Zacks Research raised SPX Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Wolfe Research reaffirmed an "outperform" rating and set a $266.00 target price on shares of SPX Technologies in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on SPX Technologies from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Truist Financial reissued a "buy" rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, SPX Technologies currently has a consensus rating of "Buy" and a consensus price target of $266.67.

SPX Technologies Stock Performance

NYSE SPXC opened at $217.12 on Friday. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The stock's 50 day simple moving average is $223.22 and its 200-day simple moving average is $217.66. The company has a market cap of $10.87 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its 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. The business had revenue of $679.00 million during the quarter, compared to analysts' expectations of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior 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 anticipate that SPX Technologies, Inc. will post 8.47 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.

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