SPX Technologies, Inc. $SPXC Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 5.2% in the fourth quarter, Holdings Channel reports. The fund owned 691,355 shares of the company’s stock after selling 38,277 shares during the period. Goldman Sachs Group Inc.’s holdings in SPX Technologies were worth $138,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. New Mexico Educational Retirement Board acquired a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $2,041,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of SPX Technologies by 56.7% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after buying an additional 85 shares during the period. AdvisorShares Investments LLC lifted its holdings in shares of SPX Technologies by 153.2% in the 4th quarter. AdvisorShares Investments LLC now owns 899 shares of the company’s stock valued at $180,000 after buying an additional 544 shares during the period. Norges Bank acquired a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $123,721,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $178,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPXC has been the subject of several recent analyst reports. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Oppenheimer raised their price target on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Truist Financial raised their price target on SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a report on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Stock Performance

NYSE SPXC opened at $230.09 on Tuesday. SPX Technologies, Inc. has a 1-year low of $152.79 and a 1-year high of $246.68. The company has a market capitalization of $11.52 billion, a P/E ratio of 45.03, a PEG ratio of 1.67 and a beta of 1.28. The business has a 50 day moving average price of $212.15 and a 200 day moving average price of $213.32. 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 released its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. During the same period last year, the business posted $1.38 EPS. SPX Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Sell-side analysts expect that SPX Technologies, Inc. will post 7.98 EPS 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.