M&T Bank Corp Sells 24,751 Shares of SPX Technologies, Inc. $SPXC

Key Points

• M&T Bank Corp cut its stake in SPX Technologies by 65.5% in Q4, selling 24,751 shares and retaining 13,036 shares valued at $2.608 million.
• Other institutional investors (including Royal Bank of Canada, AQR, Millennium and UBS) increased their holdings, leaving institutional ownership at about 92.82% of the stock.
• Analysts are mostly positive with a consensus rating of Moderate Buy and a $245.56 target; SPX beat quarterly EPS estimates ($1.88 vs. $1.86), reported revenue up 19.4% y/y, and set FY2026 guidance of 7.60–8.00 EPS.

M&T Bank Corp reduced its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 65.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,036 shares of the company's stock after selling 24,751 shares during the period. M&T Bank Corp's holdings in SPX Technologies were worth $2,608,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SPXC. Royal Bank of Canada raised its stake in SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company's stock worth $4,942,000 after buying an additional 2,892 shares in the last quarter. AQR Capital Management LLC raised its stake in SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock worth $2,670,000 after buying an additional 8,854 shares in the last quarter. Millennium Management LLC raised its stake in SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company's stock worth $10,725,000 after buying an additional 56,799 shares in the last quarter. NewEdge Advisors LLC raised its stake in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock worth $80,000 after buying an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in SPX Technologies by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company's stock worth $24,742,000 after buying an additional 3,353 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SPXC. Oppenheimer increased their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Weiss Ratings reissued a "buy (b)" rating on shares of SPX Technologies in a research note on Monday, December 29th. Wall Street Zen downgraded shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. TD Cowen reissued a "hold" rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of SPX Technologies from $270.00 to $225.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $245.56.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $222.72 on Tuesday. SPX Technologies, Inc. has a fifty-two week low of $130.01 and a fifty-two week high of $246.68. The company has a 50 day simple moving average of $213.99 and a two-hundred day simple moving average of $211.28. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 44.46, a P/E/G ratio of 1.71 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The business had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. During the same quarter last year, the firm earned $1.51 earnings per share. The business'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. Analysts expect that SPX Technologies, Inc. will post 7.79 EPS for the current fiscal year.

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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