SPX Technologies (NYSE:SPXC) Insider Sells $2,584,440.00 in Stock

SPX Technologies, Inc. (NYSE:SPXC) insider J Randall Data sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares in the company, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $207.41 on Thursday. The company has a 50 day simple moving average of $205.98 and a two-hundred day simple moving average of $188.54. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 2.04 and a beta of 1.32. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $233.71.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The firm had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. During the same quarter in the prior year, the business earned $1.39 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in SPX Technologies by 3.4% in the 1st quarter. LPL Financial LLC now owns 13,363 shares of the company’s stock worth $1,721,000 after acquiring an additional 439 shares in the last quarter. Citigroup Inc. grew its position in shares of SPX Technologies by 7.4% in the first quarter. Citigroup Inc. now owns 70,520 shares of the company’s stock valued at $9,082,000 after purchasing an additional 4,852 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SPX Technologies during the first quarter worth about $761,000. HighTower Advisors LLC raised its position in shares of SPX Technologies by 4.1% during the 1st quarter. HighTower Advisors LLC now owns 7,311 shares of the company’s stock worth $942,000 after purchasing an additional 291 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in SPX Technologies by 6.4% in the 1st quarter. Russell Investments Group Ltd. now owns 59,400 shares of the company’s stock valued at $7,650,000 after buying an additional 3,570 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SPXC shares. Wells Fargo & Company began coverage on SPX Technologies in a research note on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $244.00 price target (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. TD Cowen assumed coverage on shares of SPX Technologies in a research note on Monday, November 10th. They set a “hold” rating and a $225.00 price objective on the stock. Truist Financial started coverage on shares of SPX Technologies in a report on Monday, October 20th. They set a “hold” rating and a $209.00 target price for the company. Finally, Bank of America assumed coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $213.14.

SPX Technologies Company 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.