Bank of New York Mellon Corp decreased its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,048 shares of the company's stock after selling 4,767 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of SPX Technologies worth $64,390,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of SPXC. Ares Financial Consulting LLC bought a new position in SPX Technologies in the 4th quarter worth $37,000. Flagship Harbor Advisors LLC bought a new stake in SPX Technologies during the fourth quarter valued at about $40,000. Sound Income Strategies LLC acquired a new stake in shares of SPX Technologies in the fourth quarter valued at about $45,000. Hazlett Burt & Watson Inc. grew its position in shares of SPX Technologies by 56.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company's stock valued at $47,000 after purchasing an additional 85 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of SPX Technologies in the first quarter worth about $51,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SPXC has been the subject of several research analyst reports. B. Riley Financial reissued a "buy" rating on shares of SPX Technologies in a research report on Friday, May 1st. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. upped their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Oppenheimer reiterated an "outperform" rating and set a $280.00 price target (up from $272.00) on shares of SPX Technologies in a report on Monday. Finally, BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an "outperform" rating and a $243.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $255.30.
Check Out Our Latest Stock Analysis on SPXC
SPX Technologies Trading Up 0.9%
Shares of SPXC stock opened at $218.88 on Thursday. The firm has a fifty day moving average of $223.58 and a 200-day moving average of $217.50. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 1.59 and a beta of 1.27. SPX Technologies, Inc. has a 52-week low of $173.33 and a 52-week high of $251.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11.
SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. During the same period in the previous year, the business earned $1.38 EPS. The firm's revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities research analysts forecast that SPX Technologies, Inc. will post 7.98 earnings per share for the current fiscal year.
SPX Technologies Profile
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Free Report)
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.
See Also
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