SPX Technologies, Inc. $SPXC Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 45.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,999 shares of the company’s stock after selling 66,479 shares during the quarter. Victory Capital Management Inc.’s holdings in SPX Technologies were worth $14,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares during the period. Ameritas Investment Partners Inc. grew its holdings in SPX Technologies by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock worth $782,000 after acquiring an additional 56 shares during the period. Sequoia Financial Advisors LLC raised its position in SPX Technologies by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock worth $644,000 after acquiring an additional 63 shares in the last quarter. Sage Rhino Capital LLC lifted its holdings in SPX Technologies by 5.3% in the third quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock valued at $252,000 after acquiring an additional 68 shares during the period. Finally, Intrust Bank NA lifted its holdings in SPX Technologies by 4.8% in the third quarter. Intrust Bank NA now owns 1,602 shares of the company’s stock valued at $299,000 after acquiring an additional 74 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $210.89 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $219.25 and its 200 day moving average price is $206.39. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $246.68. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.61 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The company had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. During the same quarter in the previous year, the business posted $1.51 earnings per share. The firm’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. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Insider Activity

In related news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SPXC shares. Wells Fargo & Company upped their price target 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. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Truist Financial lifted their price target on shares of SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Finally, B. Riley Financial restated a “buy” rating and issued a $244.00 price target (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus 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.