SPX Technologies, Inc. $SPXC Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP grew its position in SPX Technologies, Inc. (NYSE:SPXC) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,699 shares of the company’s stock after purchasing an additional 8,680 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.29% of SPX Technologies worth $27,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPXC. Norges Bank acquired a new stake in SPX Technologies in the second quarter valued at $97,223,000. Vanguard Group Inc. increased its holdings in shares of SPX Technologies by 4.6% in the 3rd 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 last quarter. AustralianSuper Pty Ltd purchased a new position in shares of SPX Technologies in the 3rd quarter valued at about $41,092,000. Invesco Ltd. raised its position in shares of SPX Technologies by 22.3% during the 2nd quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock worth $194,035,000 after acquiring an additional 210,682 shares in the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in SPX Technologies during the second quarter worth approximately $19,817,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $231.65 on Friday. The stock’s 50-day moving average price is $217.66 and its 200 day moving average price is $204.67. The company has a quick ratio of 1.70, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $11.55 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.32. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $246.68.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SPXC shares. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Oppenheimer increased 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. Truist Financial lifted their price target on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $280.00 in a report on Friday, February 13th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.29.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares in the company, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.32% of the company’s stock.

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.