SPX Technologies, Inc. (NYSE:SPXC) Sees Large Drop in Short Interest

SPX Technologies, Inc. (NYSE:SPXC) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 1,038,177 shares, a decrease of 42.6% from the June 15th total of 1,808,706 shares. Based on an average daily volume of 1,363,957 shares, the short-interest ratio is presently 0.8 days. Currently, 2.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On SPX Technologies

Hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its stake in shares of SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Lido Advisors LLC increased its stake in SPX Technologies by 1.6% in the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares in the last quarter. Intrust Bank NA increased its stake in SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of SPX Technologies by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of SPX Technologies by 7.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock valued at $188,000 after purchasing an additional 62 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Down 1.9%

Shares of NYSE:SPXC traded down $4.11 during trading on Friday, reaching $211.85. The stock had a trading volume of 1,435,492 shares, compared to its average volume of 580,406. SPX Technologies has a 52 week low of $171.31 and a 52 week high of $251.08. The firm’s fifty day moving average is $222.54 and its 200 day moving average is $217.14. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 41.46, a P/E/G ratio of 1.60 and a beta of 1.27. 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 (NYSE:SPXC) last released its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (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 business had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. During the same quarter in the previous year, the business earned $1.38 earnings per share. SPX Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, equities analysts forecast that SPX Technologies will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets initiated coverage on SPX Technologies in a research note on Friday, March 27th. They set an “outperform” rating and a $243.00 price target on the stock. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Wells Fargo & Company boosted their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.50.

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.