SPX Technologies, Inc. $SPXC Shares Sold by Corsair Capital Management L.P.

Corsair Capital Management L.P. decreased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,662 shares of the company’s stock after selling 3,000 shares during the quarter. SPX Technologies accounts for about 2.6% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 8th largest position. Corsair Capital Management L.P. owned approximately 0.19% of SPX Technologies worth $19,527,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SPXC. Capital International Investors acquired a new stake in shares of SPX Technologies during the 4th quarter valued at $307,494,000. First Trust Advisors LP grew its holdings in shares of SPX Technologies by 181.4% in the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after acquiring an additional 878,494 shares during the last quarter. Invesco Ltd. raised its position in shares of SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the period. Norges Bank acquired a new stake in shares of SPX Technologies during the fourth quarter worth $123,721,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of SPX Technologies during the fourth quarter valued at $34,898,000. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wolfe Research reiterated an “outperform” rating and issued a $266.00 price target on shares of SPX Technologies in a research report on Thursday, July 9th. Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Truist Financial upped their price objective on shares of SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Ten investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $255.30.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $220.27 on Monday. The stock has a market cap of $11.03 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27. The business has a fifty day simple moving average of $224.30 and a 200-day simple moving average of $217.73. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a 12 month low of $175.00 and a 12 month high of $251.08.

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