Public Employees Retirement System of Ohio Makes New Investment in SPX Technologies, Inc. $SPXC

Public Employees Retirement System of Ohio purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 14,061 shares of the company’s stock, valued at approximately $3,447,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in SPX Technologies in the 1st quarter worth approximately $1,000,000. Oppenheimer Asset Management Inc. bought a new stake in SPX Technologies in the 2nd quarter valued at $4,903,000. Principal Financial Group Inc. lifted its stake in SPX Technologies by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after purchasing an additional 17,524 shares in the last quarter. Bank of America Corp DE boosted its stake in SPX Technologies by 13.0% during the first quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock valued at $63,358,000 after buying an additional 36,340 shares during the last quarter. Finally, Inceptionr LLC boosted its position in shares of SPX Technologies by 101.6% during the 4th quarter. Inceptionr LLC now owns 5,691 shares of the company’s stock valued at $1,139,000 after acquiring an additional 2,868 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPXC has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Truist Financial reiterated 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. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 price objective on shares of SPX Technologies in a research note on Monday, August 3rd. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, SPX Technologies currently has an average rating of “Buy” and an average price target of $266.67.

SPX Technologies Trading Up 1.2%

Shares of SPXC opened at $196.27 on Friday. SPX Technologies, Inc. has a twelve month low of $179.62 and a twelve month high of $251.08. The company has a market cap of $9.83 billion, a P/E ratio of 35.30, a P/E/G ratio of 1.27 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. The company’s fifty day simple moving average is $213.11 and its 200-day simple moving average is $215.77.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The firm 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 firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts expect that SPX Technologies, Inc. will post 8.47 EPS 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.