Insider Selling: SPX Technologies, Inc. (NYSE:SPXC) Insider Sells $5,670,992.68 in Stock

SPX Technologies, Inc. (NYSE:SPXC) insider J Randall Data sold 39,412 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the transaction, the insider now owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $142.30 on Friday. SPX Technologies, Inc. has a twelve month low of $76.61 and a twelve month high of $146.50. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $6.58 billion, a P/E ratio of 69.41, a P/E/G ratio of 1.47 and a beta of 1.21. The stock’s 50-day simple moving average is $135.86 and its two-hundred day simple moving average is $118.30.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share 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 for the quarter, compared to analysts’ expectations of $454.05 million. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS. As a group, equities analysts anticipate that SPX Technologies, Inc. will post 5.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPXC. William Blair reissued an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. UBS Group upped their price target on SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Finally, Oppenheimer upped their target price on shares of SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd.

Hedge Funds Weigh In On SPX Technologies

Large investors have recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in SPX Technologies during the first quarter valued at about $51,000. Palisade Asset Management LLC bought a new position in SPX Technologies during the 1st quarter worth approximately $74,000. TFO Wealth Partners LLC increased its stake in SPX Technologies by 58,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after purchasing an additional 1,168 shares during the period. Quadrant Capital Group LLC increased its stake in SPX Technologies by 54.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after purchasing an additional 475 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new stake in SPX Technologies in the first quarter valued at approximately $203,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.