Catawba River Capital Buys Shares of 38,199 SPX Technologies, Inc. $SPXC

Catawba River Capital bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 38,199 shares of the company’s stock, valued at approximately $7,642,000. SPX Technologies makes up 3.4% of Catawba River Capital’s holdings, making the stock its 12th largest holding.

Several other large investors have also recently bought and sold shares of SPXC. Royal Bank of Canada increased its stake in SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after buying an additional 2,892 shares during the period. AQR Capital Management LLC increased its stake in SPX Technologies by 74.5% during the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after buying an additional 8,854 shares during the period. Millennium Management LLC increased its stake in SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after buying an additional 56,799 shares during the period. NewEdge Advisors LLC increased its stake in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after buying an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after buying an additional 3,353 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC opened at $201.35 on Friday. The firm’s 50 day moving average is $207.74 and its 200-day moving average is $212.82. The stock has a market capitalization of $10.10 billion, a P/E ratio of 39.40, a P/E/G ratio of 1.50 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. SPX Technologies, Inc. has a 12-month low of $147.39 and a 12-month high of $246.68.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities research analysts anticipate that SPX Technologies, Inc. will post 7.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. BMO Capital Markets began coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target for the company. Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $280.00 in a report on Friday, February 13th. Finally, Truist Financial lifted their price objective on shares of SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.44.

SPX Technologies Company 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.