Royal Bank of Canada Has $9.12 Million Holdings in SPX Technologies, Inc. $SPXC

Royal Bank of Canada increased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 6.7% in the first quarter, HoldingsChannel reports. The firm owned 45,588 shares of the company’s stock after purchasing an additional 2,851 shares during the period. Royal Bank of Canada’s holdings in SPX Technologies were worth $9,115,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Ares Financial Consulting LLC bought a new position in SPX Technologies during the fourth quarter valued at about $37,000. Flagship Harbor Advisors LLC bought a new stake in shares of SPX Technologies during the 4th quarter worth about $40,000. Sound Income Strategies LLC bought a new stake in shares of SPX Technologies during the 4th quarter worth about $45,000. Hazlett Burt & Watson Inc. increased its holdings in shares of SPX Technologies by 56.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after acquiring an additional 85 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of SPX Technologies in the 1st quarter valued at approximately $51,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SPXC shares. B. Riley Financial boosted their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Truist Financial reiterated a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Wolfe Research reissued an “outperform” rating and issued a $266.00 price target on shares of SPX Technologies in a research report on Thursday, July 9th. Oppenheimer restated an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Finally, Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Trading Up 0.3%

SPX Technologies stock opened at $216.23 on Monday. SPX Technologies, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The firm has a market capitalization of $10.83 billion, a PE ratio of 38.89, a PEG ratio of 1.41 and a beta of 1.27. The business’s 50-day simple moving average is $224.68 and its 200-day simple moving average is $217.70.

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