Thrivent Financial for Lutherans Decreases Position in SPX Technologies, Inc. $SPXC

Thrivent Financial for Lutherans cut its stake in SPX Technologies, Inc. (NYSE:SPXC) by 62.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,937 shares of the company’s stock after selling 24,415 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SPX Technologies were worth $2,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in SPX Technologies by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after acquiring an additional 55,482 shares during the last quarter. Quantbot Technologies LP acquired a new stake in SPX Technologies in the 3rd quarter valued at about $4,626,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in SPX Technologies by 46.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock valued at $14,854,000 after acquiring an additional 23,439 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in SPX Technologies in the 3rd quarter valued at about $6,708,000. Finally, Interval Partners LP acquired a new stake in SPX Technologies in the 3rd quarter valued at about $7,452,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPXC shares. Truist Financial increased their price objective 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. Oppenheimer increased their price objective on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. BMO Capital Markets started coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Nine equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Stock Up 1.0%

Shares of NYSE SPXC opened at $207.36 on Friday. The company has a 50 day simple moving average of $207.08 and a 200-day simple moving average of $212.82. The company has a market capitalization of $10.41 billion, a P/E ratio of 40.58, a P/E/G ratio of 1.53 and a beta of 1.31. 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, Inc. has a 1 year low of $147.39 and a 1 year high of $246.68.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities research analysts predict that SPX Technologies, Inc. will post 7.97 earnings per share for the current 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.