California State Teachers Retirement System Has $3.41 Billion Holdings in SPX Technologies, Inc. $SPXC

California State Teachers Retirement System lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 23,765.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,899,178 shares of the company’s stock after buying an additional 13,840,939 shares during the quarter. California State Teachers Retirement System owned about 0.28% of SPX Technologies worth $3,407,661,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on SPXC shares. B. Riley Financial upped their price target on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Truist Financial reissued a “buy” rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Wells Fargo & Company restated an “overweight” rating and set a $250.00 price objective on shares of SPX Technologies in a report on Monday, August 3rd. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Stock Performance

NYSE SPXC opened at $186.80 on Friday. 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 fifty day moving average price is $209.70 and its two-hundred day moving average price is $214.25. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. The firm has a market capitalization of $9.36 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 1.26 and a beta of 1.27.

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

SPX Technologies Company Profile

SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.

SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.