Handelsbanken Fonder AB Has $2.90 Million Stock Position in SPX Technologies, Inc. $SPXC

Handelsbanken Fonder AB grew its position in SPX Technologies, Inc. (NYSE:SPXC) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,509 shares of the company’s stock after buying an additional 2,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in SPX Technologies were worth $2,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $29,000 after buying an additional 54 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of SPX Technologies by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock worth $644,000 after buying an additional 63 shares during the period. Signaturefd LLC boosted its holdings in shares of SPX Technologies by 19.9% in the fourth quarter. Signaturefd LLC now owns 397 shares of the company’s stock worth $79,000 after buying an additional 66 shares during the period. Sage Rhino Capital LLC boosted its holdings in shares of SPX Technologies by 5.3% in the third quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock worth $252,000 after buying an additional 68 shares during the period. Finally, Intrust Bank NA boosted its holdings in shares of SPX Technologies by 4.8% in the third quarter. Intrust Bank NA now owns 1,602 shares of the company’s stock worth $299,000 after buying an additional 74 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

SPXC stock opened at $207.36 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. The stock has a market cap of $10.41 billion, a P/E ratio of 40.58, a P/E/G ratio of 1.53 and a beta of 1.31. The firm has a 50 day simple moving average of $207.08 and a 200 day simple moving average of $212.82. SPX Technologies, Inc. has a 52 week low of $147.39 and a 52 week high of $246.68.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping 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 quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Research analysts anticipate that SPX Technologies, Inc. will post 7.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $280.00 in a report on Friday, February 13th. BMO Capital Markets started coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 target price for the company. Truist Financial raised their price target on shares of SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company raised their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and a consensus target price of $249.44.

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.