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 firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

SPX Technologies Price Performance

Shares of NYSE SPXC traded down $2.16 during midday trading on Monday, hitting $217.78. The company had a trading volume of 337,860 shares, compared to its average volume of 325,652. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $233.71. The business has a 50-day simple moving average of $204.49 and a two-hundred day simple moving average of $187.50. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. The company had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research report on Monday, December 8th. TD Cowen began 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. Bank of America initiated coverage on SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price target for the company. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, B. Riley reiterated a “buy” rating and set a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $213.14.

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. purchased a new position in SPX Technologies during the third quarter worth approximately $28,000. Cullen Frost Bankers Inc. raised its position in shares of SPX Technologies by 52.9% in the 3rd 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 period. Optiver Holding B.V. raised its position in shares of SPX Technologies by 110.5% in the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after buying an additional 84 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in SPX Technologies in the second quarter valued at $31,000. Finally, Financial Consulate Inc. purchased a new stake in SPX Technologies during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.