Port Capital LLC Makes New $109.16 Million Investment in SPX Technologies, Inc. $SPXC

Port Capital LLC acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 445,236 shares of the company’s stock, valued at approximately $109,159,000. SPX Technologies makes up 4.5% of Port Capital LLC’s investment portfolio, making the stock its 5th biggest position.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in SPX Technologies in the first quarter valued at about $1,000,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of SPX Technologies during the second quarter worth approximately $4,903,000. Principal Financial Group Inc. raised its stake in shares of SPX Technologies by 4.1% in the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock valued at $89,060,000 after acquiring an additional 17,524 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SPX Technologies by 13.0% in the first quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock valued at $63,358,000 after acquiring an additional 36,340 shares during the last quarter. Finally, Inceptionr LLC boosted its holdings in shares of SPX Technologies by 101.6% in the 4th quarter. Inceptionr LLC now owns 5,691 shares of the company’s stock worth $1,139,000 after acquiring an additional 2,868 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPXC has been the topic of a number of research analyst reports. Truist Financial restated a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price objective on shares of SPX Technologies in a research report on Monday, August 3rd. Oppenheimer reissued an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $266.67.

SPX Technologies Price Performance

Shares of SPXC stock opened at $205.28 on Thursday. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $219.26 and its 200-day moving average is $217.33. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 1.31 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same quarter last year, the business posted $1.65 earnings per share. SPX Technologies’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. Sell-side analysts forecast that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal 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.