Truist Financial Corp Sells 11,186 Shares of SPX Technologies, Inc. $SPXC

Truist Financial Corp lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 57.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,423 shares of the company’s stock after selling 11,186 shares during the period. Truist Financial Corp’s holdings in SPX Technologies were worth $1,685,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPXC. Vanguard Group Inc. boosted its stake in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after buying an additional 232,436 shares in the last quarter. Invesco Ltd. boosted its stake in 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 buying an additional 722,039 shares in the last quarter. Alliancebernstein L.P. boosted its stake in 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 in the last quarter. Principal Financial Group Inc. boosted its stake in SPX Technologies by 11.2% in the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after buying an additional 55,482 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in SPX Technologies by 41.0% in the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock worth $102,842,000 after buying an additional 160,162 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $203.24 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. SPX Technologies, Inc. has a fifty-two week low of $147.39 and a fifty-two week high of $246.68. The stock has a 50 day moving average price of $208.15 and a two-hundred day moving average price of $212.91. The company has a market capitalization of $10.20 billion, a P/E ratio of 39.77, a PEG ratio of 1.50 and a beta of 1.31.

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

Analyst Ratings Changes

Several equities analysts recently commented on SPXC shares. Wells Fargo & Company increased their target price 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. Truist Financial increased their target price 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. BMO Capital Markets initiated coverage on shares of SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $280.00 in a report on Friday, February 13th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and an average 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.