SPX Technologies, Inc. $SPXC Shares Sold by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates trimmed its SPX Technologies stake by 6.2% in the first quarter, selling 20,339 shares and ending with 306,506 shares valued at about $61.3 million.
• Institutional ownership remains very high, with hedge funds and asset managers holding 92.82% of the company’s shares. Several major investors, including Invesco and Capital International Investors, also added significant positions recently.
• SPX Technologies reported better-than-expected first-quarter results, with EPS of $1.69 and revenue of $566.8 million, while analysts remain broadly bullish with a consensus Moderate Buy rating and average price target of $254.50.

Van Berkom & Associates Inc. lessened its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,506 shares of the company's stock after selling 20,339 shares during the period. Van Berkom & Associates Inc. owned approximately 0.61% of SPX Technologies worth $61,283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. 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 worth $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors acquired a new stake in SPX Technologies during the fourth quarter valued at approximately $307,494,000. Geode Capital Management LLC boosted its holdings in SPX Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock worth $242,874,000 after buying an additional 63,889 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 acquiring an additional 84,117 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company's stock worth $124,695,000 after purchasing an additional 2,631 shares during the period. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Up 0.1%

SPXC stock opened at $211.85 on Monday. The company has a market cap of $10.61 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.27. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a twelve month low of $171.31 and a twelve month high of $251.08. The business's 50-day simple moving average is $222.72 and its 200 day simple moving average is $217.19.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.14. The business had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.SPX Technologies's revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. BMO Capital Markets assumed coverage on SPX Technologies in a research report on Friday, March 27th. They issued an "outperform" rating and a $243.00 target price for the company. Wall Street Zen cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. B. Riley Financial restated a "buy" rating on shares of SPX Technologies in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $254.50.

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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