SPX Technologies, Inc. (NYSE:SPXC) Short Interest Up 20.7% in February

SPX Technologies, Inc. (NYSE:SPXC) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 976,294 shares, an increase of 20.7% from the January 29th total of 808,815 shares. Based on an average trading volume of 374,182 shares, the short-interest ratio is currently 2.6 days. Approximately 2.0% of the company’s shares are short sold. Approximately 2.0% of the company’s shares are short sold. Based on an average trading volume of 374,182 shares, the short-interest ratio is currently 2.6 days.

SPX Technologies Stock Down 5.3%

SPX Technologies stock traded down $11.85 during mid-day trading on Thursday, hitting $210.22. The company had a trading volume of 137,014 shares, compared to its average volume of 410,040. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $246.68. The business has a fifty day moving average of $219.02 and a 200 day moving average of $205.66. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 1.70 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $625.98 million. During the same quarter in the prior year, the business posted $1.51 EPS. 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. On average, sell-side analysts expect that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPXC. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. B. Riley Financial reiterated a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Oppenheimer upped their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. assumed coverage on shares of SPX Technologies in a research note on Wednesday. They set an “overweight” rating and a $260.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.63.

Insider Activity

In other news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the transaction, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

Large investors have recently modified their holdings of the stock. Capital International Investors acquired a new stake in SPX Technologies in the fourth quarter valued at about $307,494,000. Invesco Ltd. grew its stake in shares of SPX Technologies by 62.4% during 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 period. Norges Bank purchased a new position in shares of SPX Technologies in the 4th quarter valued at about $123,721,000. Vanguard Group Inc. lifted its stake in shares of SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in SPX Technologies during the third quarter worth about $41,092,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.