Pacer Advisors Inc. Acquires 2,498 Shares of SPX Technologies, Inc. $SPXC

Pacer Advisors Inc. lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 23.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,268 shares of the company’s stock after acquiring an additional 2,498 shares during the quarter. Pacer Advisors Inc.’s holdings in SPX Technologies were worth $2,653,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its position in SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the last quarter. Cim Investment Management Inc. increased its position in shares of SPX Technologies by 22.4% during the 1st quarter. Cim Investment Management Inc. now owns 1,277 shares of the company’s stock valued at $255,000 after purchasing an additional 234 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SPX Technologies by 13.0% during the 1st quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after purchasing an additional 36,340 shares during the period. Janus Henderson Group PLC raised its stake in shares of SPX Technologies by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after purchasing an additional 42,921 shares during the period. Finally, Cim LLC boosted its holdings in shares of SPX Technologies by 17.7% in the 1st quarter. Cim LLC now owns 11,917 shares of the company’s stock worth $2,383,000 after buying an additional 1,793 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Oppenheimer reiterated an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. B. Riley Financial increased their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Trading Up 1.0%

Shares of SPXC opened at $216.23 on Friday. The business has a 50-day moving average of $224.68 and a 200 day moving average of $217.70. SPX Technologies, Inc. has a fifty-two week low of $179.62 and a fifty-two week high of $251.08. The firm has a market cap of $10.83 billion, a P/E ratio of 38.89, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, research analysts forecast that SPX Technologies, Inc. will post 8.47 EPS for the current 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.