SPX Technologies (NYSE:SPXC) Director Brian Deck Purchases 1,000 Shares of Stock

SPX Technologies, Inc. (NYSE:SPXC) Director Brian Deck purchased 1,000 shares of SPX Technologies stock in a transaction dated Friday, November 6th. The shares were bought at an average price of $140.75 per share, for a total transaction of $140,750.00. Following the acquisition, the director owned 4,742 shares in the company, valued at approximately $667,436.50. This trade represents a 26.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SPX Technologies Trading Down 0.6%

Shares of SPXC stock opened at $150.03 on Wednesday. The company’s 50-day moving average price is $171.50 and its 200-day moving average price is $205.27. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.00 and a beta of 1.26. SPX Technologies, Inc. has a twelve month low of $137.86 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $710.38 million. During the same quarter in the prior year, the firm posted $1.84 earnings per share. SPX Technologies’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities analysts predict that SPX Technologies, Inc. will post 8.39 earnings per share for the current year.

Institutional Trading of SPX Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in shares of SPX Technologies by 181.2% in the second quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock valued at $2,222,000 after buying an additional 5,868 shares in the last quarter. Amundi raised its holdings in shares of SPX Technologies by 31.2% in the 2nd quarter. Amundi now owns 324,732 shares of the company’s stock valued at $79,645,000 after buying an additional 77,148 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of SPX Technologies in the 1st quarter valued at $1,000,000. Squarepoint Ops LLC acquired a new position in SPX Technologies during the 2nd quarter worth about $14,194,000. Finally, Bank of America Corp DE acquired a new position in SPX Technologies during the 2nd quarter worth about $86,545,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wolfe Research began coverage on shares of SPX Technologies in a report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price target for the company. B. Riley Financial decreased their price objective on SPX Technologies from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Vertical Research began coverage on SPX Technologies in a research report on Monday, September 28th. They issued a “buy” rating and a $215.00 price objective for the company. Citigroup reissued a “buy” rating on shares of SPX Technologies in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on SPX Technologies from $282.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $241.90.

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.