Key Points
- Director Brian Deck bought 3,000 SPX Technologies shares for about $493,020 at an average price of $164.34, increasing his stake by 404% to 3,742 shares.
- SPX shares were reported down 9.9%, opening at $138.31 and near their 12-month low of $137.86.
- The company beat quarterly estimates, reporting EPS of $2.21 and revenue of $714.5 million, up 20.5% year over year; analysts’ consensus rating was “Moderate Buy.”
SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) Director Brian Deck bought 3,000 shares of SPX Technologies stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average cost of $164.34 per share, for a total transaction of $493,020.00. Following the acquisition, the director owned 3,742 shares in the company, valued at $614,960.28. The trade was a 404.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
SPX Technologies Stock Down 9.9%
SPXC opened at $138.31 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. SPX Technologies, Inc. has a 12 month low of $137.86 and a 12 month high of $251.08. The business's 50-day moving average price is $174.64 and its 200-day moving average price is $206.33. The company has a market cap of $6.93 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.01 and a beta of 1.26.
SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09. SPX Technologies had a net margin of 11.48% and a return on equity of 16.96%. The firm had revenue of $714.50 million during the quarter, compared to the consensus estimate of $710.38 million. During the same period in the prior year, the firm posted $1.84 earnings per share. The company's quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities analysts expect that SPX Technologies, Inc. will post 8.39 EPS for the current year.
Hedge Funds Weigh In On SPX Technologies
A number of institutional investors have recently bought and sold shares of the stock. Compound Planning Inc. grew its holdings in SPX Technologies by 4.3% during the first quarter. Compound Planning Inc. now owns 1,625 shares of the company's stock valued at $325,000 after purchasing an additional 67 shares during the period. Lido Advisors LLC increased its position in SPX Technologies by 2.5% in the third quarter. Lido Advisors LLC now owns 3,122 shares of the company's stock worth $529,000 after buying an additional 76 shares in the last quarter. Parallel Advisors LLC increased its position in SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company's stock worth $62,000 after buying an additional 86 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of SPX Technologies by 24.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 557 shares of the company's stock worth $111,000 after buying an additional 110 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of SPX Technologies by 9.6% in the third quarter. Farther Finance Advisors LLC now owns 1,259 shares of the company's stock worth $213,000 after buying an additional 110 shares during the period. 92.82% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Wolfe Research assumed 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. Oppenheimer reduced 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. Wall Street Zen upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Citigroup reissued a "buy" rating on shares of SPX Technologies in a report on Friday, October 30th. Finally, Robert W. Baird started coverage on shares of SPX Technologies in a report on Monday, October 5th. They issued an "outperform" rating and a $220.00 price objective on the stock. One research 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 company's stock. According to data from MarketBeat, SPX Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.36.
Check Out Our Latest Stock Report on SPX Technologies
SPX Technologies Company Profile
(
Get Free Report)
SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.
SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.
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