SPX Technologies, Inc. $SPXC Position Increased by Royal Bank of Canada

Royal Bank of Canada grew its position in SPX Technologies, Inc. (NYSE:SPXC) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,588 shares of the company’s stock after buying an additional 2,851 shares during the quarter. Royal Bank of Canada owned approximately 0.09% of SPX Technologies worth $9,115,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SPXC. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in SPX Technologies by 46.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock valued at $14,854,000 after purchasing an additional 23,439 shares during the period. Principal Financial Group Inc. boosted its position in shares of SPX Technologies by 4.1% in the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after buying an additional 17,524 shares during the period. State of Michigan Retirement System acquired a new stake in shares of SPX Technologies in the fourth quarter worth $2,361,000. Inceptionr LLC grew its holdings in shares of SPX Technologies by 101.6% during the fourth quarter. Inceptionr LLC now owns 5,691 shares of the company’s stock valued at $1,139,000 after buying an additional 2,868 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of SPX Technologies by 226.2% during the fourth quarter. State of Wyoming now owns 3,340 shares of the company’s stock valued at $668,000 after buying an additional 2,316 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $216.23 on Monday. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 1.41 and a beta of 1.27. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. 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 business has a fifty day simple moving average of $224.68 and a 200 day simple moving average of $217.70.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same period in the prior year, the firm posted $1.65 EPS. The business’s revenue was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 8.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. B. Riley Financial increased their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price objective on shares of SPX Technologies in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies currently has a consensus rating of “Buy” and a consensus price target of $266.67.

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.