145,716 Shares in SPX Technologies, Inc. $SPXC Bought by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 145,716 shares of the company’s stock, valued at approximately $35,725,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in SPX Technologies by 8.1% during the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after buying an additional 2,892 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after acquiring an additional 8,854 shares during the last quarter. Millennium Management LLC increased its stake in shares of SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after acquiring an additional 56,799 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after acquiring an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after acquiring an additional 3,353 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analysts Set New Price Targets

SPXC has been the subject of several recent analyst reports. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Truist Financial reissued a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Finally, B. Riley Financial lifted their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Performance

Shares of SPXC opened at $205.28 on Thursday. The firm has a market cap of $10.28 billion, a P/E ratio of 36.92, a PEG ratio of 1.31 and a beta of 1.27. SPX Technologies, Inc. has a twelve month low of $179.62 and a twelve month high of $251.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. The firm’s 50 day moving average price is $219.26 and its two-hundred day moving average price is $217.33.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue 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. On average, analysts forecast that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal 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.