SPX Technologies, Inc. (NYSE:SPXC) CEO Eugene Joseph Lowe III Sells 27,048 Shares of Stock

SPX Technologies, Inc. (NYSE:SPXCGet Free Report) CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction on Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the sale, the chief executive officer now directly owns 597,936 shares in the company, valued at approximately $69,049,649.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eugene Joseph Lowe III also recently made the following trade(s):

  • On Monday, March 4th, Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00.

SPX Technologies Price Performance

Shares of SPX Technologies stock opened at $115.41 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $104.53 and a 200 day moving average price of $90.98. The firm has a market cap of $5.27 billion, a PE ratio of 60.11, a P/E/G ratio of 1.27 and a beta of 1.25. SPX Technologies, Inc. has a twelve month low of $61.09 and a twelve month high of $117.47.

SPX Technologies (NYSE:SPXCGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.25. The firm had revenue of $469.40 million during the quarter, compared to analysts’ expectations of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 EPS. Sell-side analysts predict that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SPXC shares. StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Oppenheimer restated an “outperform” rating and set a $124.00 price objective (up from $118.00) on shares of SPX Technologies in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and an average price target of $107.00.

Check Out Our Latest Report on SPXC

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SPXC. Point72 Asset Management L.P. purchased a new stake in SPX Technologies during the second quarter valued at about $34,000. Fairfield Bush & CO. acquired a new stake in SPX Technologies in the first quarter valued at approximately $35,000. Huntington National Bank lifted its stake in shares of SPX Technologies by 45.5% in the 2nd quarter. Huntington National Bank now owns 467 shares of the company’s stock valued at $40,000 after purchasing an additional 146 shares during the last quarter. Quarry LP purchased a new position in shares of SPX Technologies in the 2nd quarter valued at about $44,000. Finally, Harbour Investments Inc. acquired a new stake in SPX Technologies during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

About SPX Technologies

(Get Free Report)

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.

Further Reading

Insider Buying and Selling by Quarter for SPX Technologies (NYSE:SPXC)

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