Elevation Point Wealth Partners LLC Invests $659,000 in SPX Technologies, Inc. $SPXC

Elevation Point Wealth Partners LLC bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,689 shares of the company’s stock, valued at approximately $659,000.

Several other large investors have also modified their holdings of the stock. Commerce Bank bought a new stake in SPX Technologies in the second quarter valued at about $1,233,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of SPX Technologies in the 2nd quarter worth approximately $113,000. Quantbot Technologies LP bought a new stake in shares of SPX Technologies in the 2nd quarter valued at approximately $245,000. De Lisle Partners LLP bought a new stake in shares of SPX Technologies in the 2nd quarter valued at approximately $3,917,000. Finally, Callan Family Office LLC acquired a new stake in shares of SPX Technologies during the 2nd quarter valued at approximately $566,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $201.25 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The firm has a market capitalization of $10.08 billion, a PE ratio of 36.20, a P/E/G ratio of 1.35 and a beta of 1.27. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08. The business’s fifty day moving average price is $220.55 and its two-hundred day moving average price is $217.50.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. B. Riley Financial raised their price objective on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research raised shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Truist Financial reaffirmed a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Finally, Wolfe Research reissued an “outperform” rating and issued a $266.00 target price on shares of SPX Technologies in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.