Comerica Bank Increases Stock Holdings in SPX Technologies, Inc. $SPXC

Key Points

• Comerica Bank increased its stake in SPX Technologies by 44.1% in Q4 to 131,293 shares, now owning 0.26% of the company valued at about $26.27 million.
• SPX reported a modest beat for the quarter (EPS $1.88 vs. $1.86; revenue $637.3M, +19.4% YoY) and set FY2026 guidance of 7.600–8.000 EPS, with consensus sell-side EPS of 7.79 and a market cap of $11.18 billion (P/E 44.46).
• Institutional ownership is very high at 92.82%, and analyst sentiment is largely positive (nine Buys, one Hold) with an average target price of about $245.56 and recent targets ranging roughly $225–$280.

Comerica Bank raised its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 44.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,293 shares of the company's stock after purchasing an additional 40,165 shares during the period. Comerica Bank owned 0.26% of SPX Technologies worth $26,267,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. purchased a new position in shares of SPX Technologies during the third quarter worth approximately $28,000. Cullen Frost Bankers Inc. grew its position 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 acquiring an additional 54 shares during the last quarter. Optiver Holding B.V. grew its position 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 acquiring an additional 84 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of SPX Technologies during the third quarter worth approximately $34,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of SPX Technologies during the fourth quarter worth approximately $40,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $222.72 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. The stock has a fifty day moving average price of $213.99 and a 200 day moving average price of $211.28. SPX Technologies, Inc. has a 1-year low of $130.01 and a 1-year high of $246.68. The company has a market cap of $11.18 billion, a PE ratio of 44.46, a P/E/G ratio of 1.71 and a beta of 1.34.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. During the same period last year, the company earned $1.51 earnings per share. The company's revenue for the quarter was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Sell-side analysts forecast that SPX Technologies, Inc. will post 7.79 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPXC shares. Wells Fargo & Company lowered their target price on shares of SPX Technologies from $270.00 to $225.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Oppenheimer raised their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Weiss Ratings restated a "buy (b)" rating on shares of SPX Technologies in a research report on Monday, December 29th. JPMorgan Chase & Co. started coverage on shares of SPX Technologies in a research report on Wednesday, March 4th. They set an "overweight" rating and a $260.00 target price on the stock. Finally, Bank of America upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Nine 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, the company has a consensus rating of "Moderate Buy" and an average target price of $245.56.

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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