AustralianSuper Pty Ltd Makes New $41.09 Million Investment in SPX Technologies, Inc. $SPXC

AustralianSuper Pty Ltd acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 220,000 shares of the company’s stock, valued at approximately $41,092,000. AustralianSuper Pty Ltd owned about 0.44% of SPX Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in SPX Technologies during the third quarter valued at $28,000. Cullen Frost Bankers Inc. raised its stake in shares of SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of SPX Technologies by 110.5% in the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after buying an additional 84 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SPX Technologies in the second quarter worth about $31,000. Finally, Financial Consulate Inc. acquired a new stake in SPX Technologies during the third quarter worth about $34,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $219.44 on Wednesday. The business’s 50 day moving average price is $218.75 and its 200 day moving average price is $205.55. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 43.80, a PEG ratio of 1.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $246.68.

SPX Technologies (NYSE:SPXC) last posted 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. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. During the same quarter in the previous year, the firm earned $1.51 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on SPXC. Truist Financial boosted their price target on SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a report on Thursday, February 26th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. B. Riley Financial restated a “buy” rating and set a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $249.29.

Insiders Place Their Bets

In other news, insider J Randall Data sold 12,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This represents a 23.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by insiders.

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.