Inceptionr LLC Makes New Investment in SPX Technologies, Inc. $SPXC

Inceptionr LLC acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,823 shares of the company’s stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPXC. Cullen Frost Bankers Inc. raised its position in shares of SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after acquiring an additional 54 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of SPX Technologies by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock valued at $782,000 after purchasing an additional 56 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in SPX Technologies by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock worth $644,000 after purchasing an additional 63 shares during the period. Sage Rhino Capital LLC grew its stake in SPX Technologies by 5.3% in the third quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock worth $252,000 after purchasing an additional 68 shares during the period. Finally, Intrust Bank NA raised its holdings in SPX Technologies by 4.8% in the third quarter. Intrust Bank NA now owns 1,602 shares of the company’s stock worth $299,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Truist Financial upped their target price on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. B. Riley Financial reissued a “buy” rating and set a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Finally, Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.63.

Insider Transactions at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.32% of the stock is currently owned by insiders.

SPX Technologies Stock Up 0.5%

Shares of NYSE:SPXC opened at $210.89 on Wednesday. The stock has a fifty day simple moving average of $219.25 and a two-hundred day simple moving average of $206.39. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.61 and a beta of 1.30. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $246.68. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC) last released its earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm had revenue of $637.30 million for the quarter, compared to analysts’ expectations of $625.98 million. During the same period in the prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.