Legal & General Group Plc Takes $16.07 Million Position in SPX Technologies, Inc. $SPXC

Legal & General Group Plc purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 65,530 shares of the company’s stock, valued at approximately $16,066,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPXC. Group One Trading LLC bought a new position in shares of SPX Technologies during the 2nd quarter worth approximately $32,000. Hazlett Burt & Watson Inc. grew its holdings in shares of SPX Technologies by 56.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after acquiring an additional 85 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of SPX Technologies during the second quarter valued at approximately $47,000. Hantz Financial Services Inc. lifted its holdings in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after acquiring an additional 45 shares during the period. Finally, Summit Securities Group LLC bought a new stake in SPX Technologies during the first quarter worth $51,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPXC has been the subject of several research analyst reports. Zacks Research raised SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Wells Fargo & Company restated an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. Wolfe Research reaffirmed an “outperform” rating and issued a $266.00 price objective on shares of SPX Technologies in a research report on Thursday, July 9th. 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. Finally, B. Riley Financial raised their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Down 0.2%

Shares of NYSE SPXC opened at $198.26 on Monday. 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 $9.93 billion, a PE ratio of 35.66, a P/E/G ratio of 1.30 and a beta of 1.27. SPX Technologies, Inc. has a one year low of $179.62 and a one year high of $251.08. The business’s fifty day moving average price is $217.60 and its 200-day moving average price is $217.03.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping 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 company had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same quarter last year, the firm posted $1.65 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, equities research analysts anticipate 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.