Corient Private Wealth LP Invests $1.13 Million in SPX Technologies, Inc. $SPXC

Corient Private Wealth LP acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,627 shares of the company’s stock, valued at approximately $1,134,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in SPX Technologies in the 1st quarter valued at approximately $1,000,000. Oppenheimer Asset Management Inc. acquired a new position in SPX Technologies during the second quarter worth $4,903,000. Principal Financial Group Inc. boosted its position in shares of SPX Technologies by 4.1% during the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after buying an additional 17,524 shares during the period. Inceptionr LLC grew its stake in shares of SPX Technologies by 101.6% in the fourth quarter. Inceptionr LLC now owns 5,691 shares of the company’s stock valued at $1,139,000 after buying an additional 2,868 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of SPX Technologies by 13.0% in the 1st quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock valued at $63,358,000 after buying an additional 36,340 shares during the period. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SPXC shares. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Wolfe Research restated an “outperform” rating and issued a $266.00 price objective on shares of SPX Technologies in a report on Thursday, July 9th. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Truist Financial restated a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SPX Technologies presently has a consensus rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Trading Up 1.2%

NYSE SPXC opened at $196.27 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08. The stock has a market capitalization of $9.83 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The firm has a 50 day moving average of $213.11 and a two-hundred day moving average of $215.77.

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