Man Group plc Invests $7.52 Million in SPX Technologies, Inc. $SPXC

Man Group plc purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the second quarter, according to its most recent filing with the SEC. The firm purchased 30,687 shares of the company’s stock, valued at approximately $7,524,000. Man Group plc owned 0.06% of SPX Technologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in shares of SPX Technologies in the 1st quarter valued at $1,000,000. Oppenheimer Asset Management Inc. acquired a new stake in SPX Technologies during the 2nd quarter worth $4,903,000. Principal Financial Group Inc. raised its stake in SPX Technologies by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after buying an additional 17,524 shares during the period. Bank of America Corp DE lifted its holdings in SPX Technologies by 13.0% during the first quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after acquiring an additional 36,340 shares in the last quarter. Finally, Inceptionr LLC lifted its holdings in SPX Technologies by 101.6% during the fourth 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. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

SPXC has been the subject of several recent analyst reports. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wolfe Research reiterated an “outperform” rating and issued a $266.00 price objective on shares of SPX Technologies in a research report on Thursday, July 9th. Truist Financial reissued a “buy” rating and set a $301.00 target price (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies currently has an average rating of “Buy” and a consensus price target of $266.67.

SPX Technologies Stock Performance

SPXC opened at $198.26 on Friday. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 1.30 and a beta of 1.27. The business’s 50-day moving average price is $217.60 and its two-hundred day moving average price is $217.07. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. 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 (NYSE:SPXC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.SPX Technologies’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities analysts expect that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal year.

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.