GW&K Investment Management LLC Purchases 160,162 Shares of SPX Technologies, Inc. $SPXC

GW&K Investment Management LLC raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 41.0% during the third quarter, Holdings Channel.com reports. The fund owned 550,597 shares of the company’s stock after purchasing an additional 160,162 shares during the period. SPX Technologies comprises about 0.9% of GW&K Investment Management LLC’s holdings, making the stock its 15th largest holding. GW&K Investment Management LLC’s holdings in SPX Technologies were worth $102,842,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. acquired a new position in shares of SPX Technologies in the 3rd quarter valued at $28,000. Cullen Frost Bankers Inc. grew its stake in shares of SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after acquiring an additional 54 shares in the last quarter. Optiver Holding B.V. increased its stake in SPX Technologies by 110.5% in the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after buying an additional 84 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in SPX Technologies during the second quarter worth about $31,000. Finally, Financial Consulate Inc. bought a new stake in shares of SPX Technologies during the 3rd quarter worth approximately $34,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. JPMorgan Chase & Co. began coverage on SPX Technologies in a research report on Wednesday. They issued an “overweight” rating and a $260.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, SPX Technologies has an average rating of “Moderate Buy” and a consensus price target of $250.63.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $222.09 on Thursday. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $246.68. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 1.70 and a beta of 1.30. The stock’s 50 day moving average is $219.02 and its 200-day moving average is $205.66. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

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