Catalyst Funds Management Pty Ltd Takes $720,000 Position in SPX Technologies, Inc. $SPXC

Catalyst Funds Management Pty Ltd bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,600 shares of the company’s stock, valued at approximately $720,000.

A number of other hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its holdings in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after acquiring an additional 54 shares during the period. Intrust Bank NA grew its holdings in SPX Technologies by 3.6% during the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after acquiring an additional 58 shares during the period. Sequoia Financial Advisors LLC grew its holdings in SPX Technologies by 1.9% during 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 during the period. Signaturefd LLC grew its holdings in SPX Technologies by 19.9% during the fourth quarter. Signaturefd LLC now owns 397 shares of the company’s stock worth $79,000 after acquiring an additional 66 shares during the period. Finally, Sage Rhino Capital LLC grew its holdings in SPX Technologies by 5.3% during the third quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock worth $252,000 after acquiring an additional 68 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPXC shares. Truist Financial lifted their target price on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Oppenheimer lifted their target price on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. BMO Capital Markets initiated coverage on SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Finally, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

SPX Technologies Stock Down 0.2%

Shares of SPX Technologies stock opened at $207.36 on Monday. The stock’s fifty day moving average is $207.08 and its 200-day moving average is $212.80. The firm has a market capitalization of $10.41 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a 12-month low of $147.39 and a 12-month high of $246.68.

SPX Technologies (NYSE:SPXC) last announced 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 company had revenue of $566.80 million for 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%.SPX Technologies’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities analysts anticipate that SPX Technologies, Inc. will post 7.97 earnings per share for the current year.

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.