SPX Technologies (NYSE:SPXC) Insider Sells $7,986,242.85 in Stock

SPX Technologies, Inc. (NYSE:SPXC) insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This represents a 37.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SPX Technologies Stock Up 2.7%

NYSE:SPXC traded up $5.43 during mid-day trading on Friday, hitting $204.74. The stock had a trading volume of 245,564 shares, compared to its average volume of 322,980. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $233.71. The stock has a 50-day simple moving average of $196.10 and a two-hundred day simple moving average of $180.29. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $10.20 billion, a PE ratio of 46.01, a PEG ratio of 2.06 and a beta of 1.36.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. The company had revenue of $592.80 million for the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.SPX Technologies’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Institutional Trading of SPX Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. bought a new position in SPX Technologies during the 3rd quarter worth approximately $28,000. Cullen Frost Bankers Inc. raised its stake in SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. Optiver Holding B.V. lifted its holdings in SPX Technologies by 110.5% in the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after purchasing an additional 84 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter worth approximately $31,000. Finally, Financial Consulate Inc. bought a new position in SPX Technologies during the 3rd quarter valued at $34,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPXC. TD Cowen started coverage on SPX Technologies in a research note on Monday, November 10th. They issued a “hold” rating and a $225.00 target price on the stock. Truist Financial started coverage on shares of SPX Technologies in a research report on Monday, October 20th. They set a “hold” rating and a $209.00 price target for the company. UBS Group increased their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Wells Fargo & Company assumed coverage on SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and set a $225.00 price target (up from $212.00) on shares of SPX Technologies in a report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.22.

About SPX Technologies

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.