SPX Technologies, Inc. $SPXC Shares Sold by UBS Group AG

Key Points

• UBS Group AG reduced its SPX Technologies stake by 8.7% in the fourth quarter, selling 11,062 shares and leaving it with 116,555 shares valued at about $23.3 million.
• SPX Technologies posted strong quarterly results, reporting EPS of $1.69 versus the $1.55 consensus and revenue of $566.8 million, up 17.4% year over year.
• Analysts remain mostly bullish on the stock: nine rate it a Buy, one rates it Hold, and the average target price sits at $249.44.

UBS Group AG trimmed its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,555 shares of the company's stock after selling 11,062 shares during the period. UBS Group AG owned 0.23% of SPX Technologies worth $23,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SPXC. Invesco Ltd. increased its position in shares of SPX Technologies by 62.4% in the 3rd 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. Vanguard Group Inc. increased its position in shares of SPX Technologies by 4.6% in the 3rd 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. AustralianSuper Pty Ltd acquired a new position in shares of SPX Technologies in the 3rd quarter valued at $41,092,000. GW&K Investment Management LLC grew its position in SPX Technologies by 41.0% during the 3rd quarter. GW&K Investment Management LLC now owns 550,597 shares of the company's stock worth $102,842,000 after purchasing an additional 160,162 shares during the period. Finally, Amundi grew its position in SPX Technologies by 1,064.4% during the 3rd quarter. Amundi now owns 144,748 shares of the company's stock worth $27,072,000 after purchasing an additional 132,317 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 0.0%

Shares of SPX Technologies stock opened at $202.92 on Monday. The stock's 50 day simple moving average is $210.51 and its 200-day simple moving average is $212.47. SPX Technologies, Inc. has a 1-year low of $147.39 and a 1-year high of $246.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The stock has a market cap of $10.18 billion, a P/E ratio of 39.71, a P/E/G ratio of 1.49 and a beta of 1.31.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded SPX Technologies from a "buy" rating to a "hold" rating in a research report on Sunday. Oppenheimer increased their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Truist Financial raised their target price on SPX Technologies from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Bank of America upgraded SPX Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Finally, BMO Capital Markets assumed coverage on SPX Technologies in a research report on Friday, March 27th. They set an "outperform" rating and a $243.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $249.44.

About SPX Technologies

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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