BNP Paribas Financial Markets Reduces Position in SPX Technologies, Inc. $SPXC

BNP Paribas Financial Markets lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 79,459 shares of the company’s stock after selling 10,879 shares during the quarter. BNP Paribas Financial Markets’ holdings in SPX Technologies were worth $15,897,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Optiver Holding B.V. boosted its stake in shares of SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after purchasing an additional 84 shares during the period. Ares Financial Consulting LLC purchased a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $37,000. Flagship Harbor Advisors LLC purchased a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC purchased a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $45,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SPXC shares. Truist Financial increased their price objective on SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Bank of America raised 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. BMO Capital Markets began coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target for the company. Oppenheimer raised their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Nine 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.44.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $227.93 on Friday. SPX Technologies, Inc. has a one year low of $152.79 and a one year high of $246.68. The company’s 50-day moving average is $211.57 and its 200 day moving average is $213.10. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 44.60, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating 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 company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same period in the prior year, the firm posted $1.38 EPS. SPX Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Sell-side analysts expect that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

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.