Jupiter Topco LLC Acquires New Stake in SPX Technologies, Inc. $SPXC

Jupiter Topco LLC acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, Holdings Channel reports. The fund acquired 1,898,958 shares of the company’s stock, valued at approximately $465,593,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPXC. Royal Bank of Canada raised its position in shares of SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after buying an additional 2,892 shares during the last quarter. AQR Capital Management LLC boosted 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 worth $2,670,000 after acquiring an additional 8,854 shares during the last quarter. Millennium Management LLC boosted 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 worth $10,725,000 after acquiring an additional 56,799 shares during the last quarter. NewEdge Advisors LLC grew its stake in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after acquiring an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after acquiring an additional 3,353 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPXC stock opened at $201.55 on Wednesday. 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 company has a market capitalization of $10.10 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. The firm’s 50-day moving average is $219.88 and its two-hundred day moving average is $217.42. SPX Technologies, Inc. has a 12 month low of $179.62 and a 12 month high of $251.08.

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

Analyst Ratings Changes

A number of research firms have weighed in on SPXC. Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Truist Financial restated a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $266.67.

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.