Lazard Asset Management LLC Reduces Stake in SPX Technologies, Inc. $SPXC

Lazard Asset Management LLC reduced its position in SPX Technologies, Inc. (NYSE:SPXC) by 81.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,425 shares of the company’s stock after selling 6,348 shares during the quarter. Lazard Asset Management LLC’s holdings in SPX Technologies were worth $285,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its stake in shares of SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after buying an additional 45 shares during the last quarter. Lido Advisors LLC raised its stake in SPX Technologies by 1.6% during the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after buying an additional 50 shares during the last quarter. Intrust Bank NA boosted its holdings in SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after acquiring an additional 58 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of SPX Technologies by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after acquiring an additional 60 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of SPX Technologies by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after acquiring an additional 62 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SPXC. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 target price on shares of SPX Technologies in a report on Monday. Truist Financial reiterated a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Finally, B. Riley Financial raised their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Price Performance

NYSE SPXC opened at $216.23 on Friday. The business’s fifty day moving average price is $224.68 and its 200-day moving average price is $217.70. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. SPX Technologies, Inc. has a 1-year low of $179.62 and a 1-year high of $251.08.

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