Renaissance Technologies LLC Makes New $1 Million Investment in SPX Technologies, Inc. $SPXC

Renaissance Technologies LLC bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 1st quarter, HoldingsChannel reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $1,000,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of SPX Technologies during the 4th quarter worth $37,000. Hazlett Burt & Watson Inc. increased its stake in SPX Technologies by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after acquiring an additional 85 shares during the last quarter. Summit Securities Group LLC acquired a new stake in SPX Technologies during the first quarter worth $51,000. Hantz Financial Services Inc. raised its position in SPX Technologies by 21.4% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the period. Finally, First Horizon Corp lifted its stake in shares of SPX Technologies by 168.8% in the 4th quarter. First Horizon Corp now owns 293 shares of the company’s stock valued at $59,000 after purchasing an additional 184 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. increased 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. B. Riley Financial lifted their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, SPX Technologies has a consensus rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Up 2.3%

SPX Technologies stock opened at $217.12 on Friday. The stock has a 50 day moving average of $223.22 and a two-hundred day moving average of $217.66. SPX Technologies, Inc. has a twelve month low of $179.62 and a twelve month high of $251.08. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 1.38 and a beta of 1.27. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, research analysts expect that SPX Technologies, Inc. will post 8.47 earnings per share for the current year.

About SPX Technologies

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.