Nordea Investment Management AB Lowers Holdings in SPX Technologies, Inc. $SPXC

Nordea Investment Management AB decreased its position in SPX Technologies, Inc. (NYSE:SPXC) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 320,112 shares of the company’s stock after selling 29,995 shares during the quarter. Nordea Investment Management AB’s holdings in SPX Technologies were worth $64,525,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SPXC. Vanguard Group Inc. raised its holdings in shares of SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares during the last quarter. Invesco Ltd. boosted its holdings in SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Alliancebernstein L.P. grew its position in SPX Technologies by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock worth $124,695,000 after purchasing an additional 2,631 shares during the period. Charles Schwab Investment Management Inc. grew its position in SPX Technologies by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after purchasing an additional 14,941 shares during the period. Finally, Norges Bank purchased a new stake in SPX Technologies during the 2nd quarter valued at $97,223,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 4.3%

SPX Technologies stock opened at $194.81 on Tuesday. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $246.68. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 38.88, a P/E/G ratio of 1.43 and a beta of 1.30. The firm has a 50 day moving average of $218.38 and a 200 day moving average of $207.20. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Wells Fargo & Company increased their target price on SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Truist Financial raised their target price on SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Finally, Oppenheimer boosted their price target on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $250.63.

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.