Bank of New York Mellon Corp Sells 4,767 Shares of SPX Technologies, Inc. $SPXC

Bank of New York Mellon Corp cut its position in SPX Technologies, Inc. (NYSE:SPXC) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 322,048 shares of the company’s stock after selling 4,767 shares during the period. Bank of New York Mellon Corp’s holdings in SPX Technologies were worth $64,390,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Hillsdale Investment Management Inc. increased its stake in shares of SPX Technologies by 3,632.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,493 shares of the company’s stock valued at $299,000 after buying an additional 1,453 shares during the period. State of Michigan Retirement System increased its position in shares of SPX Technologies by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 12,000 shares of the company’s stock valued at $2,399,000 after buying an additional 200 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of SPX Technologies by 4.1% during the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after purchasing an additional 17,524 shares during the period. Fifth Third Bancorp raised its holdings in SPX Technologies by 5,756.4% during the 1st quarter. Fifth Third Bancorp now owns 126,615 shares of the company’s stock worth $25,315,000 after buying an additional 124,453 shares during the period. Finally, Candriam S.C.A. acquired a new stake in shares of SPX Technologies during the first quarter worth $1,862,000. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPXC. Truist Financial upped their price target on SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research reiterated an “outperform” rating and set a $266.00 price target on shares of SPX Technologies in a report on Thursday, July 9th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.30.

SPX Technologies Trading Up 0.9%

NYSE:SPXC opened at $218.88 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The firm’s fifty day moving average is $223.58 and its 200-day moving average is $217.50. SPX Technologies, Inc. has a 52 week low of $173.33 and a 52 week high of $251.08. The firm has a market cap of $10.96 billion, a P/E ratio of 42.83, a P/E/G ratio of 1.59 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. During the same period last year, the company posted $1.38 EPS. The business’s quarterly 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. Equities analysts expect that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

SPX Technologies Company Profile

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.