First Trust Advisors LP Acquires 878,494 Shares of SPX Technologies, Inc. $SPXC

First Trust Advisors LP boosted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 181.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,362,871 shares of the company’s stock after purchasing an additional 878,494 shares during the period. First Trust Advisors LP owned about 2.72% of SPX Technologies worth $272,492,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SPXC. Royal Bank of Canada raised its stake in shares of SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after purchasing an additional 2,892 shares during the period. AQR Capital Management LLC grew its position in SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after buying an additional 8,854 shares during the period. Millennium Management LLC grew its position in SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after buying an additional 56,799 shares during the period. NewEdge Advisors LLC increased its holdings in SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after buying an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in SPX Technologies by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after buying an additional 3,353 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SPXC shares. Truist Financial lifted their price objective on shares of SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wells Fargo & Company increased their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets initiated coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

SPX Technologies Stock Up 0.9%

Shares of NYSE:SPXC opened at $218.88 on Thursday. The firm has a fifty day moving average price of $223.58 and a two-hundred day moving average price of $217.50. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 1.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. SPX Technologies, Inc. has a one year low of $173.33 and a one year high of $251.08.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Analysts anticipate that SPX Technologies, Inc. will post 7.98 EPS 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.