Mengis Capital Management Inc. Grows Holdings in SPX Technologies, Inc. $SPXC

Mengis Capital Management Inc. lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 66.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in SPX Technologies by 660.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 981 shares of the company’s stock valued at $196,000 after acquiring an additional 852 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of SPX Technologies by 316.0% in the 4th quarter. Pacer Advisors Inc. now owns 10,770 shares of the company’s stock worth $2,155,000 after purchasing an additional 8,181 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of SPX Technologies in the 4th quarter worth about $3,797,000. Cambient Family Office LLC acquired a new stake in shares of SPX Technologies in the 4th quarter valued at about $206,000. Finally, Compound Planning Inc. acquired a new stake in shares of SPX Technologies in the 4th quarter valued at about $312,000. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. BMO Capital Markets began coverage on SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective on the stock. Oppenheimer increased their target price on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. increased their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.44.

SPX Technologies Stock Up 0.1%

Shares of NYSE:SPXC opened at $243.16 on Friday. The company’s fifty day moving average is $218.52 and its two-hundred day moving average is $214.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. SPX Technologies, Inc. has a 1-year low of $153.79 and a 1-year high of $246.68. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 47.58, a price-to-earnings-growth ratio of 1.78 and a beta of 1.28.

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

SPX Technologies 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.