Sterling Capital Management LLC Lowers Position in SPX Technologies, Inc. $SPXC

Sterling Capital Management LLC lessened its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 44.2% in the first quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. increased 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 worth $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Capital International Investors bought a new stake in SPX Technologies during the fourth quarter valued at approximately $307,494,000. Geode Capital Management LLC grew its stake in SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after buying an additional 63,889 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of SPX Technologies by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock worth $235,368,000 after buying an additional 84,117 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of SPX Technologies by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 2.9%

Shares of SPX Technologies stock opened at $238.57 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. SPX Technologies, Inc. has a 52-week low of $165.15 and a 52-week high of $251.08. The company’s 50 day moving average price is $221.00 and its 200-day moving average price is $216.16. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 1.70 and a beta of 1.28.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on SPXC. Wells Fargo & Company upped their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. BMO Capital Markets initiated coverage on SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective on the stock. Truist Financial boosted 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. Finally, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.44.

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.