Insider Selling: SPX Technologies, Inc. (NYSE:SPXC) Insider Sells 39,412 Shares of Stock

SPX Technologies, Inc. (NYSE:SPXC) insider J Randall Data sold 39,412 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the transaction, the insider now directly owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

SPX Technologies Stock Performance

Shares of NYSE:SPXC opened at $141.17 on Friday. The business has a fifty day moving average of $135.34 and a 200-day moving average of $117.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. SPX Technologies, Inc. has a twelve month low of $76.61 and a twelve month high of $146.50. The firm has a market cap of $6.53 billion, a PE ratio of 68.86, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.06 by $0.19. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business had revenue of $465.20 million for the quarter, compared to analysts’ expectations of $454.05 million. During the same period in the prior year, the firm earned $0.93 earnings per share. SPX Technologies’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.36 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new position in SPX Technologies in the first quarter valued at about $51,000. Palisade Asset Management LLC bought a new position in shares of SPX Technologies in the 1st quarter valued at about $74,000. TFO Wealth Partners LLC grew its position in shares of SPX Technologies by 58,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after buying an additional 1,168 shares during the period. Quadrant Capital Group LLC raised its stake in shares of SPX Technologies by 54.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after buying an additional 475 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in SPX Technologies in the first quarter valued at approximately $203,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Oppenheimer raised their target price on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. William Blair reiterated an “outperform” rating on shares of SPX Technologies in a research report on Friday, May 3rd. UBS Group lifted their price target on shares of SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

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.