SPX Technologies, Inc. $SPXC Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in SPX Technologies, Inc. (NYSE:SPXC) by 86.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,048 shares of the company’s stock after selling 199,625 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of SPX Technologies worth $6,412,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Kennedy Capital Management LLC grew its stake in shares of SPX Technologies by 271.0% during the 2nd quarter. Kennedy Capital Management LLC now owns 70,191 shares of the company’s stock worth $11,770,000 after purchasing an additional 51,273 shares during the period. Principal Financial Group Inc. grew its position in SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after buying an additional 55,482 shares during the period. Moody Aldrich Partners LLC increased its holdings in SPX Technologies by 18.8% in the third quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock valued at $6,252,000 after buying an additional 5,290 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of SPX Technologies by 13.6% in the 3rd quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock worth $28,672,000 after acquiring an additional 18,403 shares during the period. Finally, Voya Investment Management LLC increased its stake in SPX Technologies by 36.6% in the 3rd quarter. Voya Investment Management LLC now owns 186,359 shares of the company’s stock valued at $34,808,000 after purchasing an additional 49,884 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial upgraded SPX Technologies from a “hold” rating to a “buy” rating and dropped their price target for the company from $244.00 to $243.00 in a research report on Friday. Wells Fargo & Company raised their price objective on shares of SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Oppenheimer raised their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. BMO Capital Markets started coverage on SPX Technologies in a report on Friday. They issued an “outperform” rating and a $243.00 price target for the company. Finally, B. Riley Financial restated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $249.67.

SPX Technologies Price Performance

SPXC stock opened at $199.75 on Friday. The stock’s fifty day simple moving average is $217.39 and its 200-day simple moving average is $207.42. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $246.68. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 39.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.30. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

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

SPX Technologies Company 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.