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

SPX Technologies, Inc. (NYSE:SPXC) Director Brian Deck purchased 1,000 shares of the company’s stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $140.75 per share, with a total value of $140,750.00. Following the transaction, the director directly owned 4,742 shares in the company, valued at $667,436.50. This trade represents a 26.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

SPX Technologies Stock Down 0.6%

Shares of SPXC stock traded down $0.89 during mid-day trading on Tuesday, reaching $150.03. 510,625 shares of the company’s stock traded hands, compared to its average volume of 585,048. The company has a quick ratio of 1.17, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $172.43 and its 200-day moving average price is $205.61. SPX Technologies, Inc. has a 12 month low of $137.86 and a 12 month high of $251.08. The company has a market cap of $7.52 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.01 and a beta of 1.26.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. The company had revenue of $714.50 million for the quarter, compared to the consensus estimate of $710.38 million. SPX Technologies had a net margin of 11.48% and a return on equity of 16.96%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. On average, equities analysts expect that SPX Technologies, Inc. will post 8.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPXC shares. Zacks Research cut SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Wells Fargo & Company decreased their price objective on SPX Technologies from $250.00 to $243.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. JPMorgan Chase & Co. lowered their target price on shares of SPX Technologies from $282.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Truist Financial reissued a “buy” rating and set a $233.00 target price (down from $266.00) on shares of SPX Technologies in a research note on Monday, November 2nd. Finally, Robert W. Baird initiated coverage on SPX Technologies in a report on Monday, October 5th. They issued an “outperform” rating and a $220.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $241.90.

Hedge Funds Weigh In On SPX Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Group One Trading LLC acquired a new position in SPX Technologies in the 2nd quarter valued at $32,000. Rothschild Investment LLC boosted its holdings in shares of SPX Technologies by 229.0% during the third quarter. Rothschild Investment LLC now owns 204 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of SPX Technologies in the second quarter valued at $47,000. Parallel Advisors LLC grew its position in shares of SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in SPX Technologies in the second quarter valued at $70,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

About SPX Technologies

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.