Sterling Capital Management LLC lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 80.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,406 shares of the company’s stock after selling 5,844 shares during the period. Sterling Capital Management LLC’s holdings in SPX Technologies were worth $238,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in SPX Technologies during the 2nd quarter worth $1,189,365,000. Jupiter Topco LLC bought a new stake in SPX Technologies during the 2nd quarter valued at $465,593,000. First Trust Advisors LP raised its position in SPX Technologies by 181.4% during the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock valued at $272,492,000 after purchasing an additional 878,494 shares in the last quarter. Port Capital LLC purchased a new stake in shares of SPX Technologies in the 2nd quarter worth $109,159,000. Finally, Bank of America Corp DE purchased a new stake in shares of SPX Technologies in the 2nd quarter worth $86,545,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SPXC. Weiss Ratings downgraded SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. Robert W. Baird assumed coverage on SPX Technologies in a report on Monday, October 5th. They issued an “outperform” rating and a $220.00 price objective for the company. Zacks Research downgraded SPX Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Citigroup reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday. Finally, B. Riley Financial dropped their target price on shares of SPX Technologies from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.82.
Read Our Latest Stock Analysis on SPX Technologies
SPX Technologies Stock Down 4.5%
SPX Technologies stock opened at $159.65 on Friday. The business has a fifty day moving average of $178.60 and a two-hundred day moving average of $207.51. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The firm has a market cap of $8.00 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.04 and a beta of 1.24. SPX Technologies, Inc. has a twelve month low of $148.17 and a twelve month high of $251.08.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.09. SPX Technologies had a return on equity of 17.25% and a net margin of 11.48%. The business had revenue of $714.50 million for the quarter, compared to analysts’ expectations of $710.38 million. During the same quarter last year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts forecast that SPX Technologies, Inc. will post 8.43 earnings per share for the current fiscal year.
Trending Headlines about SPX Technologies
Here are the key news stories impacting SPX Technologies this week:
- Positive Sentiment: Raised 2026 outlook and data-center opportunity: Management increased its 2026 adjusted EBITDA growth forecast to approximately 25% and outlined roughly $1.1 billion of data-center-related capacity, reinforcing expectations for continued demand in cooling and HVAC infrastructure. SPX outlines data center capacity and raises EBITDA guidance
- Positive Sentiment: Third-quarter results exceeded estimates: SPX Technologies reported $714.5 million in revenue, up 20.5% year over year, and adjusted earnings of $2.21 per share versus the $2.12 consensus estimate. Revenue, operating profit and earnings all improved from the prior-year period. SPX Technologies third-quarter earnings report
- Positive Sentiment: Valuation argument remains supportive: One analysis estimates SPXC could be about 17% undervalued even after the guidance increase. The company’s growth profile is also supported by prior analyst targets substantially above its recent trading level. SPX Technologies stock may be undervalued
- Neutral Sentiment: Mixed institutional positioning: Recent filings show both additions and reductions by major investors, including purchases by Capital World Investors and sales by BlackRock, offering no clear institutional consensus. The company has comparatively moderate leverage, but quarterly capital spending and total liabilities remain important areas to monitor. SPX Technologies third-quarter financial results
- Negative Sentiment: Broader market risk is weighing on sentiment: Technical analysts warned that a break in S&P 500 support could trigger steeper selling. That market-wide caution may be pressuring SPXC even though its operating results and guidance were favorable. Market technical analysis and S&P 500 support warning
SPX Technologies Company Profile
SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.
SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.
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