OP Asset Management Ltd Takes Position in SPX Technologies, Inc. $SPXC

OP Asset Management Ltd purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,368 shares of the company’s stock, valued at approximately $1,073,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its stake in shares of SPX Technologies by 12.7% in the 1st quarter. Diversified Trust Co now owns 18,782 shares of the company’s stock valued at $3,755,000 after purchasing an additional 2,122 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of SPX Technologies by 524.0% during the fourth quarter. Hsbc Holdings PLC now owns 10,596 shares of the company’s stock worth $2,132,000 after purchasing an additional 8,898 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of SPX Technologies by 24.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 557 shares of the company’s stock worth $111,000 after purchasing an additional 110 shares during the period. Mengis Capital Management Inc. lifted its holdings in shares of SPX Technologies by 66.7% during the fourth quarter. Mengis Capital Management Inc. now owns 10,000 shares of the company’s stock worth $2,001,000 after purchasing an additional 4,000 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in SPX Technologies by 660.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 981 shares of the company’s stock valued at $196,000 after buying an additional 852 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of analyst reports. B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Truist Financial lifted their target price on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company boosted their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BMO Capital Markets assumed coverage on shares of SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

SPX Technologies Stock Performance

NYSE SPXC opened at $238.57 on Tuesday. The business has a 50 day moving average price of $221.00 and a 200 day moving average price of $216.16. The company has a market capitalization of $11.94 billion, a P/E ratio of 46.69, a PEG ratio of 1.70 and a beta of 1.28. SPX Technologies, Inc. has a 1-year low of $165.15 and a 1-year high of $251.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.SPX Technologies’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. 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.

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.