Elevation Point Wealth Partners LLC Acquires Shares of 2,689 SPX Technologies, Inc. $SPXC

Elevation Point Wealth Partners LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,689 shares of the company’s stock, valued at approximately $659,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SPXC. Commerce Bank purchased a new position in shares of SPX Technologies in the 2nd quarter valued at about $1,233,000. Northwestern Mutual Wealth Management Co. purchased a new stake in SPX Technologies during the second quarter worth about $113,000. Quantbot Technologies LP purchased a new stake in SPX Technologies during the second quarter worth about $245,000. De Lisle Partners LLP acquired a new position in SPX Technologies during the second quarter worth about $3,917,000. Finally, Callan Family Office LLC purchased a new position in SPX Technologies in the second quarter valued at about $566,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SPXC. Truist Financial reissued a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wolfe Research reiterated an “outperform” rating and set a $266.00 target price on shares of SPX Technologies in a research report on Thursday, July 9th. B. Riley Financial upped their target price on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. One equities 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. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Stock Performance

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 cap of $10.08 billion, a PE ratio of 36.20, a P/E/G ratio of 1.35 and a beta of 1.27. The firm has a 50 day simple moving average of $220.55 and a 200-day simple moving average of $217.50. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08.

SPX Technologies (NYSE:SPXC) last issued its quarterly 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 return on equity of 16.53% and a net margin of 11.27%.The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same period last year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, equities analysts expect that SPX Technologies, Inc. will post 8.47 EPS for the current year.

About SPX Technologies

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.