PNC Financial Services Group Inc. Has $1.64 Million Holdings in SPX Technologies, Inc. $SPXC

PNC Financial Services Group Inc. trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,208 shares of the company’s stock after selling 2,836 shares during the period. PNC Financial Services Group Inc.’s holdings in SPX Technologies were worth $1,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. raised its stake in shares of SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after buying an additional 54 shares during the last quarter. Signaturefd LLC raised its stake in shares of SPX Technologies by 19.9% during the fourth quarter. Signaturefd LLC now owns 397 shares of the company’s stock worth $79,000 after buying an additional 66 shares during the last quarter. Intrust Bank NA raised its stake in shares of SPX Technologies by 4.8% during the third quarter. Intrust Bank NA now owns 1,602 shares of the company’s stock worth $299,000 after buying an additional 74 shares during the last quarter. Savant Capital LLC raised its stake in shares of SPX Technologies by 6.5% during the third quarter. Savant Capital LLC now owns 1,307 shares of the company’s stock worth $244,000 after buying an additional 80 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of SPX Technologies by 8.8% during the third quarter. State of Wyoming now owns 1,024 shares of the company’s stock worth $191,000 after buying an additional 83 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Down 1.4%

Shares of NYSE:SPXC opened at $215.91 on Thursday. SPX Technologies, Inc. has a 52 week low of $150.49 and a 52 week high of $246.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The company has a market capitalization of $10.81 billion, a PE ratio of 42.25, a PEG ratio of 1.61 and a beta of 1.31. The company has a 50 day moving average price of $207.81 and a two-hundred day moving average price of $212.71.

SPX Technologies (NYSE:SPXC) last issued its 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. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. During the same quarter in the prior year, the firm earned $1.38 earnings per share. The business’s quarterly 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. Analysts forecast that SPX Technologies, Inc. will post 7.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SPXC shares. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. boosted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial boosted their price target on shares of SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Oppenheimer boosted their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.44.

About SPX Technologies

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.