Legal & General Group Plc Sells 57,768 Shares of SPX Technologies, Inc. $SPXC

Legal & General Group Plc cut its holdings in SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 42.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 78,672 shares of the company’s stock after selling 57,768 shares during the period. Legal & General Group Plc’s holdings in SPX Technologies were worth $15,739,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after acquiring an additional 722,039 shares during the period. Vanguard Group Inc. increased its position in shares of SPX Technologies by 4.6% in the third 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. AustralianSuper Pty Ltd purchased a new position in shares of SPX Technologies in the third quarter valued at about $41,092,000. GW&K Investment Management LLC increased its position in shares of SPX Technologies by 41.0% in the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after acquiring an additional 160,162 shares during the period. Finally, Amundi increased its position in shares of SPX Technologies by 1,064.4% in the third quarter. Amundi now owns 144,748 shares of the company’s stock valued at $27,072,000 after acquiring an additional 132,317 shares during the period. 92.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SPXC shares. Oppenheimer raised their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. Wells Fargo & Company raised their price target on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BMO Capital Markets started coverage on shares of SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target for the company. Finally, Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $249.44.

View Our Latest Research Report on SPX Technologies

SPX Technologies Price Performance

Shares of SPXC opened at $221.66 on Tuesday. The stock has a market cap of $11.10 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. SPX Technologies, Inc. has a fifty-two week low of $150.81 and a fifty-two week high of $246.68. The firm’s 50-day simple moving average is $208.67 and its two-hundred day simple moving average is $212.59.

SPX Technologies (NYSE:SPXC – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Analysts anticipate that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal year.

SPX Technologies Profile

(Free Report)

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.

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