Trillium Asset Management LLC Takes $5.37 Million Position in SPX Technologies, Inc. $SPXC

Trillium Asset Management LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,901 shares of the company’s stock, valued at approximately $5,370,000.

Several other large investors have also recently bought and sold shares of SPXC. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in SPX Technologies by 46.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock worth $14,854,000 after buying an additional 23,439 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of SPX Technologies in the 1st quarter valued at $1,000,000. Oppenheimer Asset Management Inc. acquired a new position in shares of SPX Technologies in the 2nd quarter valued at $4,903,000. Principal Financial Group Inc. lifted its holdings in shares of SPX Technologies by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after acquiring an additional 17,524 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of SPX Technologies by 13.0% during the 1st quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock valued at $63,358,000 after acquiring an additional 36,340 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Down 1.5%

Shares of NYSE:SPXC opened at $204.81 on Friday. The company’s fifty day moving average is $221.73 and its 200-day moving average is $217.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08. The company has a market capitalization of $10.26 billion, a PE ratio of 36.84, a P/E/G ratio of 1.36 and a beta of 1.27.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. B. Riley Financial upped their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Wolfe Research reiterated an “outperform” rating and issued a $266.00 price objective on shares of SPX Technologies in a research note on Thursday, July 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $266.67.

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.