Panagora Asset Management Inc. Purchases 7,361 Shares of SPX Technologies, Inc. $SPXC

Panagora Asset Management Inc. lifted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,280 shares of the company’s stock after purchasing an additional 7,361 shares during the period. Panagora Asset Management Inc.’s holdings in SPX Technologies were worth $40,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SPXC. Capital International Investors bought a new position in shares of SPX Technologies during the fourth quarter worth approximately $307,494,000. Invesco Ltd. increased 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 purchasing an additional 722,039 shares during the period. Norges Bank bought a new position in shares of SPX Technologies during the fourth quarter worth approximately $123,721,000. Vanguard Group Inc. increased 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 purchasing an additional 232,436 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in shares of SPX Technologies during the third quarter worth approximately $41,092,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPXC opened at $236.30 on Tuesday. The firm has a market cap of $11.83 billion, a P/E ratio of 46.24, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. SPX Technologies, Inc. has a 52-week low of $152.79 and a 52-week high of $246.68. 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 business’s fifty day moving average is $215.38 and its 200-day moving average is $214.13.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 16.98% and a net margin of 10.76%.SPX Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Sell-side analysts expect that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Oppenheimer raised their price objective on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Wells Fargo & Company lifted their price objective on SPX Technologies from $225.00 to $240.00 and gave the company 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, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.44.

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.