Norges Bank Takes Position in SPX Technologies, Inc. $SPXC

Norges Bank bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 618,418 shares of the company’s stock, valued at approximately $123,721,000. Norges Bank owned 1.24% of SPX Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares during the last quarter. Invesco Ltd. grew its holdings in shares of SPX Technologies by 62.4% in 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of SPX Technologies by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after purchasing an additional 63,889 shares during the last quarter. Alliancebernstein L.P. increased its stake 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 buying an additional 2,631 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in SPX Technologies by 41.0% during the 3rd quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after buying an additional 160,162 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $236.36 on Friday. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.72 and a beta of 1.28. The stock has a fifty day moving average of $211.03 and a 200 day moving average of $213.00. SPX Technologies, Inc. has a 52 week low of $152.79 and a 52 week high of $246.68. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same period in the previous year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, research analysts expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SPXC shares. Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Truist Financial upped their price objective on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Oppenheimer increased their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company raised their target price on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.44.

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.