SPX Technologies, Inc. $SPXC Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lowered its position in SPX Technologies, Inc. (NYSE:SPXC) by 23.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 416,490 shares of the company’s stock after selling 130,145 shares during the period. Artisan Partners Limited Partnership owned approximately 0.84% of SPX Technologies worth $77,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in SPX Technologies by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. lifted its position in SPX Technologies by 22.3% during the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock valued at $194,035,000 after purchasing an additional 210,682 shares during the period. Geode Capital Management LLC boosted its holdings in SPX Technologies by 1.7% in the second quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock valued at $182,211,000 after purchasing an additional 17,735 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in SPX Technologies by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock valued at $109,127,000 after purchasing an additional 14,941 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of SPX Technologies during the 2nd quarter valued at about $97,223,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPXC. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. B. Riley Financial reaffirmed a “buy” rating and set a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Truist Financial increased their price target on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Insider Buying and Selling at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the transaction, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Trading Down 2.0%

Shares of SPXC stock opened at $227.00 on Friday. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $246.68. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 45.31, a PEG ratio of 1.59 and a beta of 1.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.70. The stock has a 50 day simple moving average of $218.13 and a 200-day simple moving average of $204.85.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $637.30 million during the quarter, compared to analyst estimates of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, equities research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal 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.