SPX Technologies, Inc. $SPXC Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC cut its SPX Technologies stake by 93.8% in the fourth quarter, selling 14,059 shares and leaving it with 927 shares worth about $185,000.
• SPX Technologies reported better-than-expected Q1 earnings, posting $1.69 per share on revenue of $566.8 million, both above analyst estimates, with revenue up 17.4% year over year.
• Analysts remain broadly positive on the stock, with nine Buy ratings and one Hold; the consensus price target stands at $249.44, while shares recently traded around $202.92.

Horizon Investments LLC lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 93.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 927 shares of the company's stock after selling 14,059 shares during the quarter. Horizon Investments LLC's holdings in SPX Technologies were worth $185,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company's stock valued at $989,649,000 after acquiring an additional 232,436 shares during the period. 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. Alliancebernstein L.P. lifted its holdings in SPX Technologies by 0.4% in the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company's stock valued at $124,695,000 after acquiring an additional 2,631 shares during the period. Principal Financial Group Inc. lifted its holdings in SPX Technologies by 11.2% in the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company's stock valued at $102,890,000 after acquiring an additional 55,482 shares during the period. Finally, GW&K Investment Management LLC lifted its holdings in SPX Technologies by 41.0% in the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company's stock valued at $102,842,000 after acquiring an additional 160,162 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Trading Up 0.0%

Shares of SPXC stock opened at $202.92 on Monday. The firm has a 50-day moving average price of $210.51 and a 200 day moving average price of $212.47. SPX Technologies, Inc. has a twelve month low of $147.39 and a twelve month high of $246.68. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 1.49 and a beta of 1.31. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Research analysts forecast that SPX Technologies, Inc. will post 7.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPXC has been the subject of a number of recent analyst reports. Oppenheimer raised their target price on SPX Technologies from $240.00 to $272.00 and gave the company an "outperform" rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on SPX Technologies from $225.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. B. Riley Financial reaffirmed a "buy" rating on shares of SPX Technologies in a research note on Friday, May 1st. BMO Capital Markets began coverage on SPX Technologies in a research note on Friday, March 27th. They set an "outperform" rating and a $243.00 price target for the company. Finally, Wall Street Zen downgraded SPX Technologies from a "buy" rating to a "hold" rating in a research note on Sunday. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $249.44.

SPX Technologies Company 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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