Castleark Management LLC Has $8.31 Million Holdings in SPX Technologies, Inc. $SPXC

Castleark Management LLC cut its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 16.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,567 shares of the company’s stock after selling 8,260 shares during the period. Castleark Management LLC’s holdings in SPX Technologies were worth $8,311,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SPXC. Ares Financial Consulting LLC acquired a new position in shares of SPX Technologies during the 4th quarter worth $37,000. Flagship Harbor Advisors LLC acquired a new stake in shares of SPX Technologies in the 4th quarter valued at $40,000. Sound Income Strategies LLC bought a new stake in SPX Technologies in the fourth quarter worth $45,000. Hazlett Burt & Watson Inc. boosted its holdings in SPX Technologies by 56.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after purchasing an additional 85 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after buying an additional 45 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Up 0.1%

SPX Technologies stock opened at $220.27 on Monday. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 43.11, a P/E/G ratio of 1.62 and a beta of 1.27. 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 fifty-two week low of $175.00 and a fifty-two week high of $251.08. The firm has a fifty day moving average price of $224.30 and a two-hundred day moving average price of $217.73.

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

Analyst Upgrades and Downgrades

SPXC has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and set a $280.00 target price (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Truist Financial increased their price objective on SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.30.

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.