Capital International Investors Makes New $307.49 Million Investment in SPX Technologies, Inc. $SPXC

Capital International Investors bought a new position in SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,537,009 shares of the company’s stock, valued at approximately $307,494,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MCF Advisors LLC increased its position in shares of SPX Technologies by 20.5% during the 4th quarter. MCF Advisors LLC now owns 1,471 shares of the company’s stock worth $294,000 after purchasing an additional 250 shares during the last quarter. Pinebridge Investments LLC acquired a new stake in shares of SPX Technologies during the 4th quarter worth about $4,722,000. EULAV Asset Management increased its position in shares of SPX Technologies by 61.8% during the 4th quarter. EULAV Asset Management now owns 116,500 shares of the company’s stock worth $23,307,000 after purchasing an additional 44,500 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of SPX Technologies by 65.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,035 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,992 shares during the last quarter. Finally, State of Wyoming increased its position in shares of SPX Technologies by 226.2% during the 4th quarter. State of Wyoming now owns 3,340 shares of the company’s stock worth $668,000 after purchasing an additional 2,316 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPXC has been the subject of a number of recent analyst reports. Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Truist Financial raised their price objective on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company raised their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets initiated coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective for the company. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $227.93 on Monday. The business has a 50-day moving average of $211.57 and a 200 day moving average of $213.14. SPX Technologies, Inc. has a 12 month low of $152.79 and a 12 month high of $246.68. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 44.60, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same period last year, the business posted $1.38 EPS. SPX Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

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.