Key Points
- Insider sale: John William Swann III sold 38,755 shares on Nov. 19 at an average of $206.07 for about $7.99 million, reducing his holding by 37.62% to 64,266 shares, as disclosed in an SEC Form 4.
- Quarterly results and guidance: SPX beat estimates with Q3 EPS of $1.84 and revenue of $592.8M (up 22.6% YoY) and set FY2025 guidance of 6.65–6.80 EPS, versus analysts' current-year estimate of roughly 5.57.
- Market and investor context: Shares traded around $204.74 with a $10.2B market cap and a 46.0 P/E, institutions own 92.82% of shares (Vanguard and Invesco increased stakes), and the consensus rating is a Moderate Buy with a $205.22 target.
SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) insider John William Swann III sold 38,755 shares of the company's stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider owned 64,266 shares of the company's stock, valued at approximately $13,243,294.62. The trade was a 37.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
SPX Technologies Stock Performance
Shares of SPXC traded up $5.43 during mid-day trading on Friday, hitting $204.74. 245,564 shares of the company's stock were exchanged, compared to its average volume of 322,980. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $233.71. The business's 50 day moving average is $196.46 and its two-hundred day moving average is $180.69. The firm 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 - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. During the same period in the prior year, the business earned $1.39 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.
Institutional Trading of SPX Technologies
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company's stock valued at $989,649,000 after purchasing an additional 232,436 shares during the last quarter. 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 valued at $351,000,000 after buying an additional 722,039 shares in the last quarter. Geode Capital Management LLC grew its holdings in SPX Technologies by 1.7% during 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 during the last quarter. Nuveen LLC acquired a new stake in SPX Technologies during the 1st quarter valued at $88,852,000. Finally, Alliancebernstein L.P. increased its position in SPX Technologies by 0.4% during the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company's stock worth $124,695,000 after buying an additional 2,631 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.
Analysts Set New Price Targets
SPXC has been the subject of several recent research reports. UBS Group increased their price target 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 issued a "hold" rating and a $209.00 target price for the company. TD Cowen started coverage on shares of SPX Technologies in a report on Monday, November 10th. They issued a "hold" rating and a $225.00 target price for the company. B. Riley reiterated a "buy" rating and set a $225.00 price target (up from $212.00) on shares of SPX Technologies in a research report on Monday, October 27th. Finally, Wells Fargo & Company assumed coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an "overweight" rating and a $205.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $205.22.
Check Out Our Latest Research Report on SPX Technologies
About SPX Technologies
(
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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.
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