Key Points
- Director Brian Deck bought 1,000 shares for $140,750, increasing his stake by 26.72% to 4,742 shares.
- SPX Technologies beat quarterly estimates, reporting EPS of $2.21 versus $2.12 expected and revenue of $714.5 million, up 20.5% year over year.
- Analysts’ consensus rating is “Moderate Buy”, with an average price target of $241.90; the stock opened at $150.03 on Wednesday.
SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) Director Brian Deck purchased 1,000 shares of SPX Technologies stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $140.75 per share, for a total transaction of $140,750.00. Following the transaction, the director directly owned 4,742 shares of the company's stock, valued at approximately $667,436.50. This represents a 26.72% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
SPX Technologies Trading Down 0.6%
NYSE SPXC opened at $150.03 on Wednesday. The firm has a 50 day simple moving average of $171.50 and a 200-day simple moving average of $205.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.84. SPX Technologies, Inc. has a one year low of $137.86 and a one year high of $251.08. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.00 and a beta of 1.26.
SPX Technologies (NYSE:SPXC - Get Free Report) last announced 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. 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 analysts' expectations of $710.38 million. During the same quarter in the previous year, the business posted $1.84 earnings per share. The business's quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts anticipate that SPX Technologies, Inc. will post 8.39 EPS for the current fiscal year.
Hedge Funds Weigh In On SPX Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Group One Trading LLC purchased a new stake in shares of SPX Technologies during the second quarter worth approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in SPX Technologies in the second quarter worth approximately $47,000. Rothschild Investment LLC lifted its stake in SPX Technologies by 229.0% in the third quarter. Rothschild Investment LLC now owns 204 shares of the company's stock worth $35,000 after acquiring an additional 142 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in SPX Technologies in the second quarter worth approximately $70,000. Finally, Allworth Financial LP purchased a new position in SPX Technologies in the second quarter worth approximately $70,000. 92.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on SPXC. Vertical Research began coverage on shares of SPX Technologies in a research note on Monday, September 28th. They issued a "buy" rating and a $215.00 price target for the company. Weiss Ratings lowered SPX Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, November 3rd. Wall Street Zen cut SPX Technologies from a "buy" rating to a "hold" rating in a research note on Sunday. Truist Financial reiterated a "buy" rating and issued a $233.00 price objective (down from $266.00) on shares of SPX Technologies in a research note on Monday, November 2nd. Finally, B. Riley Financial decreased their target price on SPX Technologies from $285.00 to $250.00 and set a "buy" rating for the company in a report on Monday, October 26th. One research 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 company's stock. According to data from MarketBeat.com, SPX Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $241.90.
Check Out Our Latest Report on SPXC
SPX Technologies Company Profile
(
Get Free Report)
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.
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