SPX Technologies, Inc. $SPXC Stock Position Reduced by Corsair Capital Management L.P.

Corsair Capital Management L.P. lessened its stake in SPX Technologies, Inc. (NYSE:SPXC) by 3.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 97,662 shares of the company’s stock after selling 3,000 shares during the quarter. SPX Technologies makes up 2.6% of Corsair Capital Management L.P.’s holdings, making the stock its 8th largest position. Corsair Capital Management L.P.’s holdings in SPX Technologies were worth $19,527,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of SPX Technologies by 46.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock worth $14,854,000 after acquiring an additional 23,439 shares in the last quarter. Goelzer Investment Management Inc. purchased a new position in SPX Technologies in the fourth quarter valued at about $720,000. State of Michigan Retirement System purchased a new position in SPX Technologies in the fourth quarter valued at about $2,361,000. Inceptionr LLC increased its position in SPX Technologies by 101.6% in the 4th quarter. Inceptionr LLC now owns 5,691 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,868 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in SPX Technologies by 250.8% in the 4th quarter. SG Americas Securities LLC now owns 22,764 shares of the company’s stock worth $4,554,000 after purchasing an additional 16,275 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Up 0.1%

Shares of SPXC stock opened at $220.27 on Monday. The stock’s 50 day simple moving average is $224.30 and its 200 day simple moving average is $217.73. 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 twelve month low of $175.00 and a twelve month high of $251.08. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 43.11, a PEG ratio of 1.62 and a beta of 1.27.

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

Wall Street Analyst Weigh In

SPXC has been the subject of a number of recent research reports. Truist Financial raised their price target on SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

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.