SPX Technologies, Inc. $SPXC Stock Acquired by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG increased its SPX Technologies stake by 17.4% in the third quarter, buying 26,643 additional shares to own 179,472 shares worth approximately $30.4 million. Institutional investors collectively hold 92.82% of the company.
• Analyst sentiment remains positive but has softened, with several firms downgrading their ratings to “hold” or reducing price targets. The stock has a consensus “Moderate Buy” rating and an average price target of $247.
• SPX Technologies recently exceeded quarterly expectations, reporting $2.02 in earnings per share versus an estimated $1.85 and revenue of $679 million versus $640.18 million expected. Revenue increased 22.9% year over year.

Robeco Schweiz AG increased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,472 shares of the company's stock after purchasing an additional 26,643 shares during the period. Robeco Schweiz AG owned 0.36% of SPX Technologies worth $30,431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Group One Trading LLC purchased a new position in SPX Technologies during the second quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of SPX Technologies in the second quarter worth $47,000. Summit Securities Group LLC purchased a new stake in shares of SPX Technologies in the first quarter valued at $51,000. Parallel Advisors LLC lifted its position in shares of SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company's stock valued at $62,000 after acquiring an additional 86 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of SPX Technologies during the second quarter valued at $70,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of SPX Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, September 21st. Wall Street Zen cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. Zacks Research downgraded shares of SPX Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Wolfe Research began coverage on shares of SPX Technologies in a report on Tuesday, September 15th. They set an "outperform" rating and a $250.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on shares of SPX Technologies from $250.00 to $243.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.00.

SPX Technologies Stock Up 0.4%

SPXC opened at $160.57 on Friday. 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 has a market capitalization of $8.04 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 1.03 and a beta of 1.24. The business has a 50-day moving average of $183.00 and a two-hundred day moving average of $206.29. SPX Technologies, Inc. has a 12 month low of $155.86 and a 12 month high of $251.08.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same quarter in the prior year, the company posted $1.65 EPS. The company's quarterly revenue was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, research analysts expect that SPX Technologies, Inc. will post 8.48 earnings per share for the current year.

SPX Technologies Company Profile

SPX Technologies, Inc NYSE: SPXC is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.