SPX Technologies (NYSE:SPXC) Shares Down 8.7% – Here’s Why

SPX Technologies, Inc. (NYSE:SPXC)’s share price was down 8.7% during mid-day trading on Wednesday . The stock traded as low as $216.12 and last traded at $221.9950. Approximately 126,293 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 404,375 shares. The stock had previously closed at $243.04.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPXC. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. B. Riley Financial reissued a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Truist Financial upped their target price on SPX Technologies from $216.00 to $244.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.29.

SPX Technologies Trading Down 2.0%

The company has a 50 day simple moving average of $218.13 and a 200 day simple moving average of $204.85. The company has a current ratio of 2.48, a quick ratio of 1.70 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $11.31 billion, a PE ratio of 45.31, a P/E/G ratio of 1.56 and a beta of 1.32.

SPX Technologies (NYSE:SPXC) last released its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider owned 38,020 shares in the company, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPXC. Hazlett Burt & Watson Inc. purchased a new stake in SPX Technologies in the 3rd quarter valued at approximately $28,000. Cullen Frost Bankers Inc. lifted its holdings in shares of SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares during the period. Optiver Holding B.V. boosted its stake in shares of SPX Technologies by 110.5% in the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after buying an additional 84 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in SPX Technologies during the second quarter worth $31,000. Finally, Financial Consulate Inc. purchased a new position in SPX Technologies in the third quarter worth $34,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.