SPX Technologies (NYSE:SPXC) Reaches New 12-Month High at $135.92

SPX Technologies, Inc. (NYSE:SPXC) reached a new 52-week high on Tuesday . The stock traded as high as $135.92 and last traded at $135.66, with a volume of 230303 shares trading hands. The stock had previously closed at $134.27.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Oppenheimer upped their target price on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday. William Blair restated an “outperform” rating on shares of SPX Technologies in a research note on Friday. Finally, UBS Group raised their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.00.

SPX Technologies Price Performance

The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 65.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.24. The stock has a fifty day simple moving average of $119.49 and a 200-day simple moving average of $103.68. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.06 by $0.19. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The firm had revenue of $465.20 million during the quarter, compared to analysts’ expectations of $454.05 million. During the same period in the prior year, the company earned $0.93 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.38 EPS for the current year.

Insider Activity at SPX Technologies

In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the sale, the chief executive officer now owns 597,936 shares of the company’s stock, valued at approximately $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 other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 597,936 shares in the company, valued at $69,049,649.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction that occurred 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 in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. Insiders have sold 94,373 shares of company stock worth $10,962,146 over the last three months. Company insiders own 3.53% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new stake in SPX Technologies during the 1st quarter valued at $51,000. Palisade Asset Management LLC bought a new stake in SPX Technologies during the 1st quarter worth about $74,000. TFO Wealth Partners LLC raised its stake in shares of SPX Technologies by 58,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after buying an additional 1,168 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of SPX Technologies by 54.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after acquiring an additional 475 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in SPX Technologies in the first quarter valued at about $203,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.