California Public Employees Retirement System Lowers Stock Holdings in SPX Technologies, Inc. $SPXC

California Public Employees Retirement System lowered its stake in SPX Technologies, Inc. (NYSE:SPXC) by 19.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 66,785 shares of the company’s stock after selling 16,069 shares during the quarter. California Public Employees Retirement System’s holdings in SPX Technologies were worth $13,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of SPX Technologies by 62.4% in the 3rd 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 period. Capital International Investors bought a new position in SPX Technologies during the fourth quarter valued at $307,494,000. Geode Capital Management LLC increased its position in shares of SPX Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after purchasing an additional 63,889 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of SPX Technologies by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock worth $235,368,000 after purchasing an additional 84,117 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPXC. JPMorgan Chase & Co. raised their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets began coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target on the stock. B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Wolfe Research reaffirmed an “outperform” rating and set a $266.00 price objective on shares of SPX Technologies in a report on Thursday, July 9th. Finally, Wells Fargo & Company raised their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.30.

SPX Technologies Stock Up 0.2%

Shares of NYSE:SPXC opened at $220.27 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $224.30 and a two-hundred day moving average of $217.64. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 43.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. SPX Technologies, Inc. has a 52-week low of $175.00 and a 52-week high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.SPX Technologies’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 firm posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal 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.