First Trust Advisors LP Buys 878,494 Shares of SPX Technologies, Inc. $SPXC

First Trust Advisors LP increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 181.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,362,871 shares of the company’s stock after purchasing an additional 878,494 shares during the period. First Trust Advisors LP’s holdings in SPX Technologies were worth $272,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SPXC. Royal Bank of Canada lifted its position in SPX Technologies by 8.1% during the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after purchasing an additional 2,892 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after buying an additional 8,854 shares during the last quarter. Millennium Management LLC raised its position in shares of SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after buying an additional 56,799 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after buying an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after acquiring an additional 3,353 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday. BMO Capital Markets started coverage on SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. Wells Fargo & Company upped their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a 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. Finally, JPMorgan Chase & Co. boosted their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

SPX Technologies Stock Performance

NYSE:SPXC opened at $218.88 on Thursday. 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 $173.33 and a fifty-two week high of $251.08. The firm has a market cap of $10.96 billion, a PE ratio of 42.83, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The business has a 50 day moving average price of $223.58 and a 200-day moving average price of $217.50.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities research analysts predict that SPX Technologies, Inc. will post 7.98 earnings per share 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.