SPX Technologies, Inc. $SPXC Shares Purchased by Mengis Capital Management Inc.

Mengis Capital Management Inc. raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 66.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,000 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Mengis Capital Management Inc.’s holdings in SPX Technologies were worth $2,001,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after buying an additional 232,436 shares in the last quarter. Invesco Ltd. grew its stake in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Capital International Investors acquired a new position in SPX Technologies in the fourth quarter worth approximately $307,494,000. Geode Capital Management LLC raised its position in shares of SPX Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after purchasing an additional 63,889 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of SPX Technologies by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock worth $235,368,000 after purchasing an additional 84,117 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPXC opened at $243.16 on Friday. The firm has a market capitalization of $12.17 billion, a P/E ratio of 47.58, a PEG ratio of 1.78 and a beta of 1.28. The stock has a fifty day moving average of $218.52 and a 200-day moving average of $214.81. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies, Inc. has a 12-month low of $153.79 and a 12-month high of $246.68.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.SPX Technologies’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities analysts forecast that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPXC. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Truist Financial upped their price objective on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.44.

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.