30,687 Shares in SPX Technologies, Inc. $SPXC Purchased by Man Group plc

Man Group plc purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,687 shares of the company’s stock, valued at approximately $7,524,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Group One Trading LLC acquired a new position in SPX Technologies during the second quarter worth $32,000. Hazlett Burt & Watson Inc. increased its stake in shares of SPX Technologies by 56.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after purchasing an additional 85 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of SPX Technologies during the 2nd quarter worth about $47,000. Hantz Financial Services Inc. raised its holdings in shares of SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of SPX Technologies in the 1st quarter valued at about $51,000. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SPXC shares. Truist Financial restated a “buy” rating and issued a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a research note on Monday, August 3rd. B. Riley Financial raised their price target on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, July 31st. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Finally, Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies has an average rating of “Buy” and an average price target of $266.67.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $198.26 on Friday. The firm has a market cap of $9.93 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08. The business’s 50 day moving average is $217.60 and its 200-day moving average is $217.07.

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

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.