Sterling Capital Management LLC Decreases Stake in SPX Technologies, Inc. $SPXC

Sterling Capital Management LLC reduced its position in SPX Technologies, Inc. (NYSE:SPXC) by 44.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,100 shares of the company’s stock after selling 4,824 shares during the period. Sterling Capital Management LLC’s holdings in SPX Technologies were worth $1,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors purchased a new position in shares of SPX Technologies in the fourth quarter worth about $307,494,000. Invesco Ltd. raised its position in shares of SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the period. Norges Bank purchased a new stake in shares of SPX Technologies during the 4th quarter valued at approximately $123,721,000. AustralianSuper Pty Ltd purchased a new stake in shares of SPX Technologies during the 3rd quarter valued at approximately $41,092,000. Finally, ArrowMark Colorado Holdings LLC bought a new position in SPX Technologies in the 4th quarter worth approximately $34,898,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $238.57 on Tuesday. The company has a 50 day moving average of $221.00 and a 200 day moving average of $216.16. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The stock has a market cap of $11.94 billion, a P/E ratio of 46.69, a P/E/G ratio of 1.70 and a beta of 1.28. SPX Technologies, Inc. has a 12 month low of $165.15 and a 12 month high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. During the same period in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial increased their target price on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $249.44.

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.