Ghisallo Capital Management LLC Takes $9.34 Million Position in SPX Technologies, Inc. $SPXC

Ghisallo Capital Management LLC acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $9,339,000. Ghisallo Capital Management LLC owned 0.10% of SPX Technologies at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after acquiring an additional 232,436 shares in the last quarter. Invesco Ltd. grew its stake in shares of SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after acquiring an additional 722,039 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of SPX Technologies by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock worth $182,211,000 after acquiring an additional 17,735 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SPX Technologies by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock valued at $109,127,000 after purchasing an additional 14,941 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of SPX Technologies in the second quarter valued at approximately $97,223,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Down 1.7%

NYSE SPXC opened at $199.21 on Friday. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $246.68. 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 stock has a 50 day moving average of $219.41 and a 200-day moving average of $206.46. The company has a market cap of $9.94 billion, a PE ratio of 39.76, a PEG ratio of 1.55 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share 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 business had revenue of $637.30 million for the quarter, compared to the consensus estimate of $625.98 million. During the same period in the previous year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several recent research reports. JPMorgan Chase & Co. assumed coverage on shares of SPX Technologies in a report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 target price for the company. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Truist Financial increased their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Finally, Oppenheimer raised their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to 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.