SPX Technologies, Inc. (NYSE:SPXC – Get Free Report) Director Brian Deck purchased 1,000 shares of the stock in a transaction on Friday, November 6th. The shares were purchased at an average price of $140.75 per share, for a total transaction of $140,750.00. Following the transaction, the director directly owned 4,742 shares of the company’s stock, valued at approximately $667,436.50. This represents a 26.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
SPX Technologies Stock Performance
Shares of NYSE SPXC opened at $150.47 on Friday. The stock’s 50-day moving average is $169.88 and its 200 day moving average is $204.66. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.02 and a beta of 1.26. SPX Technologies, Inc. has a 1-year low of $137.86 and a 1-year high of $251.08. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51.
SPX Technologies (NYSE:SPXC – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.12 by $0.09. SPX Technologies had a net margin of 11.48% and a return on equity of 16.96%. The firm had revenue of $714.50 million for the quarter, compared to the consensus estimate of $710.38 million. During the same period last year, the firm posted $1.84 earnings per share. The business’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 8.39 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently weighed in on SPXC. Oppenheimer dropped their target price on SPX Technologies from $265.00 to $260.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. Wolfe Research started coverage on SPX Technologies in a research note on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price objective for the company. Vertical Research initiated coverage on shares of SPX Technologies in a research report on Monday, September 28th. They set a “buy” rating and a $215.00 price target for the company. JPMorgan Chase & Co. cut their target price on SPX Technologies from $225.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Zacks Research downgraded SPX Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.40.
Read Our Latest Stock Analysis on SPXC
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Group One Trading LLC purchased a new position in shares of SPX Technologies during the second quarter valued at approximately $32,000. Rothschild Investment LLC boosted its stake in SPX Technologies by 229.0% in the 3rd quarter. Rothschild Investment LLC now owns 204 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SPX Technologies during the 2nd quarter valued at about $47,000. Parallel Advisors LLC increased its stake in SPX Technologies by 38.1% during the 1st quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of SPX Technologies in the second quarter worth approximately $70,000. 92.82% of the stock is currently owned by institutional investors.
SPX Technologies Company Profile
SPX Technologies, Inc. is a global supplier of engineered products and technologies, serving customers in markets that include commercial and residential buildings, infrastructure, and industrial applications. The company operates through its HVAC and Detection and Measurement businesses. Its HVAC products include cooling towers, boilers, heating equipment, ventilation and air treatment systems, and related components. Its Detection and Measurement business provides technologies used to locate and inspect underground utilities, as well as communication and measurement products for specialized applications.
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