SPX Technologies Stock Falls as Investors Weigh Data-Center Growth Against a Rich Valuation
SPX Technologies, Inc. shares fell Friday afternoon, putting fresh pressure on a stock that has been priced for continued growth in HVAC and detection-and-measurement markets. The NYSE-listed stock was recently at $223.22, down about 4.4% from its previous close, with volume above 1 million shares and a market value of roughly $11.28 billion. The decline stood out against a firmer U.S. market backdrop, with major indexes rising Friday as oil prices eased. The move matters because SPX Technologies is no longer trading like a cheap industrial turnaround story. At the current price, the stock carries a trailing price-to-earnings ratio, or P/E ratio, of about 43.5; P/E measures how much investors are paying for each dollar of reported profit. It also trades around 28 times the midpoint of the company’s 2026 adjusted EPS guidance, a non-GAAP profit measure that excludes items management says are not reflective of ongoing operations.
