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

SPX Technologies, Inc. (NYSE:SPXC) Director Brian Deck acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $140.75 per share, with a total value of $140,750.00. Following the acquisition, the director owned 4,742 shares in the company, valued at $667,436.50. The trade was a 26.72% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SPX Technologies Trading Up 2.4%

Shares of SPX Technologies stock opened at $153.71 on Thursday. The stock has a market capitalization of $7.70 billion, a P/E ratio of 19.25, a P/E/G ratio of 0.99 and a beta of 1.26. SPX Technologies, Inc. has a 52-week low of $137.86 and a 52-week high of $251.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.84. The stock’s 50-day simple moving average is $170.73 and its 200 day simple moving average is $204.99.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, October 29th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $714.50 million during the quarter, compared to analyst estimates of $710.38 million. SPX Technologies had a net margin of 11.48% and a return on equity of 16.96%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned $1.84 earnings per share. As a group, research analysts anticipate that SPX Technologies, Inc. will post 8.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SPXC shares. Wells Fargo & Company lowered their price target on SPX Technologies from $250.00 to $243.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Wolfe Research began coverage on shares of SPX Technologies in a research report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, October 30th. Oppenheimer dropped their price target on shares of SPX Technologies from $265.00 to $260.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of SPX Technologies from $225.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SPXC. BlackRock Inc. purchased a new position in shares of SPX Technologies during the second quarter valued at approximately $1,189,365,000. Jupiter Topco LLC purchased a new stake in SPX Technologies in the second quarter worth $465,593,000. First Trust Advisors LP lifted its stake in SPX Technologies by 181.4% in the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after acquiring an additional 878,494 shares during the period. Janus Henderson Group PLC boosted its holdings in SPX Technologies by 5.9% in the first quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock valued at $153,011,000 after acquiring an additional 42,921 shares in the last quarter. Finally, Port Capital LLC bought a new stake in SPX Technologies in the second quarter valued at $109,159,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.