Ghisallo Capital Management LLC Buys New Holdings in SPX Technologies, Inc. $SPXC

Ghisallo Capital Management LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $9,339,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Interval Partners LP acquired a new stake in shares of SPX Technologies in the third quarter valued at approximately $7,452,000. Squarepoint Ops LLC increased its holdings in shares of SPX Technologies by 110.2% during the 3rd quarter. Squarepoint Ops LLC now owns 18,919 shares of the company’s stock worth $3,534,000 after acquiring an additional 9,919 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in shares of SPX Technologies during the 3rd quarter worth approximately $883,000. Harvest Fund Management Co. Ltd raised its stake in SPX Technologies by 2,770.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,043 shares of the company’s stock valued at $568,000 after acquiring an additional 2,937 shares during the period. Finally, Jump Financial LLC raised its stake in SPX Technologies by 407.6% in the 3rd quarter. Jump Financial LLC now owns 22,315 shares of the company’s stock valued at $4,168,000 after acquiring an additional 17,919 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPXC opened at $199.21 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. The business has a fifty day simple moving average of $219.41 and a 200 day simple moving average of $206.46. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $246.68. The company has a market capitalization of $9.94 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm had revenue of $637.30 million for the quarter, compared to analysts’ expectations of $625.98 million. During the same quarter last year, the business earned $1.51 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on SPXC. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. JPMorgan Chase & Co. initiated coverage on shares of SPX Technologies in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. B. Riley Financial reaffirmed a “buy” rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Finally, Oppenheimer upped their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.63.

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.