Moore Capital Management LP Purchases Shares of 69,692 SPX Technologies, Inc. $SPXC

Moore Capital Management LP bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,692 shares of the company’s stock, valued at approximately $17,086,000.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of SPX Technologies in the 1st quarter valued at $1,000,000. Oppenheimer Asset Management Inc. acquired a new position in shares of SPX Technologies during the second quarter worth $4,903,000. Bank of America Corp DE grew its stake in shares of SPX Technologies by 13.0% during the first quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after purchasing an additional 36,340 shares in the last quarter. Principal Financial Group Inc. raised its stake in SPX Technologies by 4.1% in the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock valued at $89,060,000 after buying an additional 17,524 shares in the last quarter. Finally, Inceptionr LLC increased its holdings in shares of SPX Technologies by 101.6% in 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.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a research note on Monday, August 3rd. B. Riley Financial lifted their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Down 0.2%

Shares of NYSE:SPXC opened at $198.26 on Monday. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The stock has a market cap of $9.93 billion, a P/E ratio of 35.66, a P/E/G ratio of 1.30 and a beta of 1.27. The firm has a fifty day moving average price of $217.60 and a 200 day moving average price of $217.03.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same period in the previous year, the business posted $1.65 earnings per share. SPX Technologies’s quarterly revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Sell-side analysts predict that SPX Technologies, Inc. will post 8.47 EPS for the current year.

SPX Technologies Company 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.