Oppenheimer Asset Management Inc. Makes New Investment in SPX Technologies, Inc. $SPXC

Oppenheimer Asset Management Inc. acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to its most recent filing with the SEC. The firm acquired 19,998 shares of the company’s stock, valued at approximately $4,903,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake in shares of SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after acquiring an additional 45 shares during the period. Lido Advisors LLC boosted its holdings in SPX Technologies by 1.6% in the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after acquiring an additional 50 shares during the last quarter. Intrust Bank NA increased its position in SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after purchasing an additional 58 shares during the period. Fifth Third Wealth Advisors LLC increased its position in SPX Technologies by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after purchasing an additional 60 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in SPX Technologies by 7.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after purchasing an additional 62 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on SPXC shares. Wolfe Research restated an “outperform” rating and set a $266.00 target price on shares of SPX Technologies in a research report on Thursday, July 9th. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. B. Riley Financial boosted their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research note 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, the stock presently has a consensus rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Trading Up 2.3%

NYSE:SPXC opened at $217.12 on Friday. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08. The business’s 50-day moving average price is $223.22 and its two-hundred day moving average price is $217.66. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 1.42 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last issued its 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. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. 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 earnings per share 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.