Bank of New York Mellon Corp Purchases New Position in SPX Technologies, Inc. $SPXC

Bank of New York Mellon Corp purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 286,796 shares of the company's stock, valued at approximately $70,314,000. Bank of New York Mellon Corp owned 0.57% of SPX Technologies as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPXC. Invesco Ltd. increased its stake in shares of SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock worth $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors acquired a new stake in SPX Technologies during the 4th quarter worth approximately $307,494,000. First Trust Advisors LP boosted its stake in SPX Technologies by 181.4% in the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company's stock valued at $272,492,000 after purchasing an additional 878,494 shares during the period. Geode Capital Management LLC boosted its stake in SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock valued at $242,874,000 after purchasing an additional 63,889 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in SPX Technologies by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company's stock valued at $235,368,000 after buying an additional 84,117 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Up 0.3%

SPXC stock opened at $201.55 on Wednesday. SPX Technologies, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08. The business has a 50-day simple moving average of $219.88 and a 200 day simple moving average of $217.42. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The company has a market cap of $10.10 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Sell-side analysts anticipate that SPX Technologies, Inc. will post 8.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPXC has been the topic of a number of recent research reports. Truist Financial reaffirmed a "buy" rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Wolfe Research reissued an "outperform" rating and issued a $266.00 price objective on shares of SPX Technologies in a report on Thursday, July 9th. Wells Fargo & Company restated an "overweight" rating and set a $250.00 target price on shares of SPX Technologies in a research report on Monday, August 3rd. B. Riley Financial raised their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $266.67.

About SPX Technologies

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.

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