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

Mengis Capital Management Inc. cut its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 62.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,000 shares of the company’s stock after selling 10,000 shares during the period. Mengis Capital Management Inc.’s holdings in SPX Technologies were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of SPX Technologies during the 1st quarter worth $890,000. Dynamic Technology Lab Private Ltd lifted its holdings in SPX Technologies by 794.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company’s stock valued at $1,819,000 after purchasing an additional 12,546 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in SPX Technologies in the 2nd quarter valued at about $1,878,000. Pacer Advisors Inc. lifted its holdings in SPX Technologies by 80.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,951 shares of the company’s stock valued at $251,000 after purchasing an additional 868 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of SPX Technologies by 5.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,140 shares of the company’s stock valued at $191,000 after acquiring an additional 64 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPXC shares. Oppenheimer upped their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SPX Technologies in a research report on Wednesday. Bank of America started coverage on shares of SPX Technologies in a research report on Wednesday. They issued a “neutral” rating and a $202.00 price objective for the company. Finally, UBS Group raised their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $196.33.

SPX Technologies Stock Performance

SPXC stock opened at $186.06 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 1.60 and a beta of 1.37. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38. The stock’s fifty day moving average is $189.51 and its two-hundred day moving average is $165.19.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.20. The company had revenue of $552.40 million for the quarter, compared to analysts’ expectations of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

SPX Technologies Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.