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 company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares in the company, valued at approximately $13,243,294.62. The trade was a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

SPX Technologies Stock Up 2.7%

Shares of SPX Technologies stock traded up $5.43 during midday trading on Friday, hitting $204.74. The company had a trading volume of 245,564 shares, compared to its average volume of 322,980. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The company has a 50 day moving average of $196.10 and a 200 day moving average of $180.29. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $233.71. The stock has a market capitalization of $10.20 billion, a P/E ratio of 46.01, a P/E/G ratio of 2.06 and a beta of 1.36.

SPX Technologies (NYSE:SPXC) last announced 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. The company had revenue of $592.80 million during the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a net margin of 10.27% and a return on equity of 19.59%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several institutional investors have recently made changes to their positions in SPXC. Vanguard Group Inc. raised its position in SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. lifted its stake in SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares in the last quarter. Geode Capital Management LLC grew its holdings in SPX Technologies by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock valued at $182,211,000 after buying an additional 17,735 shares in the last quarter. Nuveen LLC purchased a new stake in shares of SPX Technologies in the first quarter valued at about $88,852,000. Finally, Alliancebernstein L.P. raised its position in shares of SPX Technologies by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SPXC shares. Bank of America started coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price for the company. Wells Fargo & Company began coverage on shares of SPX Technologies in a research note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target on the stock. UBS Group lifted their target price on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Truist Financial began coverage on shares of SPX Technologies in a research note on Monday, October 20th. They set a “hold” rating and a $209.00 price target for the company. Finally, B. Riley reiterated a “buy” rating and issued a $225.00 target price (up previously from $212.00) on shares of SPX Technologies in a research note on Monday, October 27th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.22.

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.