Intech Investment Management LLC Acquires 4,438 Shares of SPX Technologies, Inc. $SPXC

Intech Investment Management LLC increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 15.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 33,711 shares of the company’s stock after acquiring an additional 4,438 shares during the period. Intech Investment Management LLC’s holdings in SPX Technologies were worth $6,297,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Kennedy Capital Management LLC grew its holdings in shares of SPX Technologies by 271.0% in the second quarter. Kennedy Capital Management LLC now owns 70,191 shares of the company’s stock worth $11,770,000 after purchasing an additional 51,273 shares during the last quarter. Principal Financial Group Inc. raised its position in SPX Technologies by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after purchasing an additional 55,482 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of SPX Technologies by 18.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock worth $6,252,000 after buying an additional 5,290 shares during the period. Emerald Advisers LLC grew its position in shares of SPX Technologies by 13.6% during the 3rd quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock worth $28,672,000 after buying an additional 18,403 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of SPX Technologies by 36.6% during the third quarter. Voya Investment Management LLC now owns 186,359 shares of the company’s stock valued at $34,808,000 after buying an additional 49,884 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Truist Financial increased their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Finally, Oppenheimer boosted their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.29.

SPX Technologies Price Performance

Shares of SPXC opened at $227.00 on Friday. The company has a 50 day moving average of $218.13 and a two-hundred day moving average of $204.85. The company has a quick ratio of 1.70, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $246.68. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 45.31, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The firm had revenue of $637.30 million during the quarter, compared to analyst estimates of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.32% of the company’s stock.

SPX Technologies 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.