Earnest Partners LLC Lowers Position in SPX Technologies, Inc. $SPXC

Earnest Partners LLC trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 825,971 shares of the company’s stock after selling 44,713 shares during the period. Earnest Partners LLC’s holdings in SPX Technologies were worth $154,275,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after acquiring an additional 232,436 shares in the last quarter. Invesco Ltd. grew its holdings in shares of SPX Technologies by 62.4% during 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of SPX Technologies by 1.7% during the second quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock worth $182,211,000 after purchasing an additional 17,735 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of SPX Technologies by 0.4% in the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SPX Technologies by 2.3% in the second 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 last quarter. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPXC shares. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $280.00 in a research report on Friday, February 13th. JPMorgan Chase & Co. assumed coverage on shares of SPX Technologies in a report on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price target on the stock. B. Riley Financial restated a “buy” rating and set a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Truist Financial lifted their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $250.63.

SPX Technologies Stock Performance

NYSE:SPXC opened at $199.21 on Friday. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.53 and a beta of 1.30. The business has a 50 day moving average of $219.41 and a 200 day moving average of $206.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $246.68.

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