PNC Financial Services Group Inc. decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 25.7% in the 4th quarter, Holdings Channel reports. The fund owned 8,208 shares of the company’s stock after selling 2,836 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPX Technologies were worth $1,642,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in SPXC. Royal Bank of Canada increased its position in shares of SPX Technologies by 8.1% during the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after acquiring an additional 2,892 shares in the last quarter. AQR Capital Management LLC increased its position in shares of SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after acquiring an additional 8,854 shares in the last quarter. Millennium Management LLC increased its position in shares of SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after acquiring an additional 56,799 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after acquiring an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of SPX Technologies by 1.8% during 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 acquiring an additional 3,353 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on SPXC. BMO Capital Markets started coverage on shares of SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective for the company. Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Truist Financial increased their target price on shares of SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company increased their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Oppenheimer increased their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Nine equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.44.
SPX Technologies Stock Performance
Shares of SPXC opened at $215.91 on Thursday. SPX Technologies, Inc. has a 12 month low of $150.49 and a 12 month high of $246.68. The firm has a fifty day simple moving average of $207.81 and a 200 day simple moving average of $212.71. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 1.61 and a beta of 1.31. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter in the prior year, the company posted $1.38 earnings per share. 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. Research analysts forecast that SPX Technologies, Inc. will post 7.97 EPS for the current fiscal 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.
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