SEB Asset Management AB Makes New $848,000 Investment in SPX Technologies, Inc. $SPXC

SEB Asset Management AB acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,242 shares of the company’s stock, valued at approximately $848,000.

A number of other hedge funds have also recently made changes to their positions in SPXC. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of SPX Technologies by 46.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock valued at $14,854,000 after acquiring an additional 23,439 shares in the last quarter. Goelzer Investment Management Inc. purchased a new stake in SPX Technologies in the fourth quarter worth about $720,000. Cadent Capital Advisors LLC bought a new position in SPX Technologies during the 4th quarter worth about $1,049,000. SG Americas Securities LLC increased its position in SPX Technologies by 250.8% during the 4th quarter. SG Americas Securities LLC now owns 22,764 shares of the company’s stock valued at $4,554,000 after purchasing an additional 16,275 shares during the period. Finally, State of Michigan Retirement System purchased a new position in SPX Technologies during the 4th quarter valued at about $2,361,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $280.00 price target (up from $272.00) on shares of SPX Technologies in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wolfe Research restated an “outperform” rating and set a $266.00 target price on shares of SPX Technologies in a report on Thursday, July 9th. Finally, BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.30.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $220.19 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The company has a market cap of $11.02 billion, a PE ratio of 43.09, a P/E/G ratio of 1.61 and a beta of 1.27. The business has a 50-day simple moving average of $223.92 and a two-hundred day simple moving average of $217.62. SPX Technologies, Inc. has a fifty-two week low of $173.33 and a fifty-two week high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior 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, equities analysts expect that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal 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.