Natixis Advisors LLC Sells 13,020 Shares of SPX Technologies, Inc. $SPXC

Natixis Advisors LLC lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,658 shares of the company’s stock after selling 13,020 shares during the quarter. Natixis Advisors LLC’s holdings in SPX Technologies were worth $3,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after buying an additional 232,436 shares during the last quarter. Invesco Ltd. grew its stake in shares of SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after buying an additional 722,039 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of SPX Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after buying an additional 63,889 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock worth $124,695,000 after buying an additional 2,631 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of SPX Technologies during the fourth quarter worth $123,721,000. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPXC. BMO Capital Markets began coverage on shares of SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Oppenheimer lifted their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $228.77 on Wednesday. The firm has a market cap of $11.45 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The firm’s fifty day moving average is $212.73 and its 200-day moving average is $213.48. 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 52 week low of $152.79 and a 52 week high of $246.68.

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