Conestoga Capital Advisors LLC Sells 100,847 Shares of SPX Technologies, Inc. $SPXC

Conestoga Capital Advisors LLC cut its position in SPX Technologies, Inc. (NYSE:SPXC) by 13.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 657,553 shares of the company’s stock after selling 100,847 shares during the quarter. SPX Technologies accounts for about 2.6% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 15th largest holding. Conestoga Capital Advisors LLC owned about 1.31% of SPX Technologies worth $131,471,000 at the end of the most recent reporting period.

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

SPX Technologies Price Performance

SPX Technologies stock opened at $232.08 on Thursday. The stock’s 50 day moving average is $221.71 and its 200 day moving average is $216.40. SPX Technologies, Inc. has a one year low of $168.61 and a one year high of $251.08. The firm has a market cap of $11.62 billion, a P/E ratio of 45.42, a P/E/G ratio of 1.80 and a beta of 1.26. 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 (NYSE:SPXC) last released its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. During the same quarter in the prior year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, research analysts expect that SPX Technologies, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several research analyst reports. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial lifted their price target on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a report on Monday, May 4th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. BMO Capital Markets initiated coverage on shares of SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.