Catawba River Capital Makes New Investment in SPX Technologies, Inc. $SPXC

Catawba River Capital bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,199 shares of the company’s stock, valued at approximately $7,642,000. SPX Technologies accounts for approximately 3.4% of Catawba River Capital’s investment portfolio, making the stock its 12th largest holding. Catawba River Capital owned 0.08% of SPX Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. acquired a new stake in shares of SPX Technologies during the third quarter worth $28,000. Cullen Frost Bankers Inc. raised its holdings in shares of 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 purchasing an additional 54 shares during the period. Optiver Holding B.V. raised its holdings in shares of SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after purchasing an additional 84 shares during the period. Ares Financial Consulting LLC acquired a new stake in shares of SPX Technologies during the fourth quarter worth $37,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of SPX Technologies during the fourth quarter worth $40,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Down 1.1%

SPXC stock opened at $201.35 on Friday. 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 fifty-two week low of $147.39 and a fifty-two week high of $246.68. The firm’s 50-day simple moving average is $207.74 and its 200 day simple moving average is $212.82. The stock has a market cap of $10.10 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. During the same period last year, the firm earned $1.38 EPS. The firm’s revenue 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, sell-side analysts predict that SPX Technologies, Inc. will post 7.97 EPS for the current year.

Analyst Ratings Changes

SPXC has been the topic of a number of research reports. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. BMO Capital Markets initiated coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target on the stock. Truist Financial increased their price target on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company increased their price target on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently 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.