Bessemer Group Inc. Buys 114,934 Shares of SPX Technologies, Inc. $SPXC

Bessemer Group Inc. increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 1,335.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 123,542 shares of the company’s stock after acquiring an additional 114,934 shares during the period. Bessemer Group Inc.’s holdings in SPX Technologies were worth $24,716,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SPXC. Principal Financial Group Inc. raised its position in shares of SPX Technologies by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after acquiring an additional 55,482 shares during the last quarter. Emerald Advisers LLC raised its position in shares of SPX Technologies by 13.6% during the 3rd quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock valued at $28,672,000 after acquiring an additional 18,403 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of SPX Technologies during the 3rd quarter valued at $4,626,000. Interval Partners LP bought a new stake in shares of SPX Technologies during the 3rd quarter valued at $7,452,000. Finally, Goelzer Investment Management Inc. bought a new stake in shares of SPX Technologies during the 4th quarter valued at $720,000. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on SPXC shares. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Wells Fargo & Company upped their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Oppenheimer upped their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

SPX Technologies Stock Performance

SPXC stock opened at $201.35 on Friday. The business’s 50-day moving average price is $207.74 and its two-hundred day moving average price is $212.82. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.10 billion, a PE ratio of 39.40, a P/E/G ratio of 1.48 and a beta of 1.31. SPX Technologies, Inc. has a 1-year low of $147.39 and a 1-year high of $246.68.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, research analysts forecast that SPX Technologies, Inc. will post 7.97 earnings per share for the current 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.