Fisher Asset Management LLC Reduces Stock Holdings in SPX Technologies, Inc. $SPXC

Fisher Asset Management LLC reduced its stake in SPX Technologies, Inc. (NYSE:SPXC) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 165,686 shares of the company’s stock after selling 10,821 shares during the period. Fisher Asset Management LLC’s holdings in SPX Technologies were worth $33,147,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. purchased a new position in SPX Technologies in the third quarter valued at approximately $28,000. Cullen Frost Bankers Inc. boosted its holdings in shares of SPX Technologies by 52.9% in the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 54 shares during the period. Optiver Holding B.V. boosted its holdings in shares of SPX Technologies by 110.5% in the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after acquiring an additional 84 shares during the period. Ares Financial Consulting LLC acquired a new stake in shares of SPX Technologies in the fourth quarter valued at approximately $37,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of SPX Technologies in the fourth quarter valued at approximately $40,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wells Fargo & Company upped their price target on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Truist Financial upped their price target on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $240.00 to $280.00 in a research note 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. According to MarketBeat, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $249.44.

SPX Technologies Trading Up 5.3%

NYSE:SPXC opened at $218.90 on Wednesday. The stock has a fifty day moving average price of $207.56 and a two-hundred day moving average price of $212.72. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 1.53 and a beta of 1.31. 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 1 year low of $150.49 and a 1 year high of $246.68.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million during 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 was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 7.97 earnings per share for the current fiscal 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.