SPX Technologies (NYSE:SPXC – Get Free Report) released its earnings results on Thursday. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.19, Briefing.com reports. The business had revenue of $465.20 million for the quarter, compared to analysts’ expectations of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.44%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. SPX Technologies updated its FY24 guidance to $5.15-5.40 EPS.
SPX Technologies Stock Up 7.4 %
NYSE:SPXC traded up $8.99 during mid-day trading on Friday, hitting $130.94. The company had a trading volume of 626,305 shares, compared to its average volume of 247,577. SPX Technologies has a 1 year low of $61.09 and a 1 year high of $132.79. The business has a fifty day simple moving average of $118.55 and a 200-day simple moving average of $102.62. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 63.87, a PEG ratio of 1.34 and a beta of 1.24.
Insider Activity at SPX Technologies
In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $115.48, for a total value of $3,123,503.04. Following the completion of the transaction, the chief executive officer now directly owns 597,936 shares in the company, valued at $69,049,649.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares in the company, valued at $69,049,649.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,373 shares of company stock worth $10,962,146. 3.53% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on SPX Technologies
SPX Technologies Company Profile
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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