SPX Technologies (NYSE:SPXC) Shares Unloaded Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently sold shares of SPX Technologies, Inc. (NYSE:SPXC). In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in SPX Technologies stock on December 6th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Block (NYSE:SQ) on 12/30/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 12/30/2024.
• Sold $1,001 – $15,000 in shares of Ambev (NYSE:ABEV) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Grupo Financiero Banorte (OTCMKTS:GBOOY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Cadre (NYSE:CDRE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Coloplast A/S (OTCMKTS:CLPBY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Intuitive Surgical (NASDAQ:ISRG) on 12/23/2024.
• Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 12/23/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/19/2024.

SPX Technologies Stock Performance

SPXC stock traded down $0.69 during trading on Thursday, reaching $148.15. The company had a trading volume of 92,386 shares, compared to its average volume of 309,028. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30. SPX Technologies, Inc. has a twelve month low of $97.55 and a twelve month high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a 50-day simple moving average of $158.33 and a 200-day simple moving average of $155.27.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. During the same period in the previous year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of recent research reports. UBS Group dropped their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. Finally, Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $168.50.

Hedge Funds Weigh In On SPX Technologies

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in SPX Technologies in the third quarter valued at $28,000. Canada Pension Plan Investment Board purchased a new position in shares of SPX Technologies in the 2nd quarter valued at about $28,000. ST Germain D J Co. Inc. acquired a new position in SPX Technologies in the 3rd quarter worth about $44,000. Farther Finance Advisors LLC boosted its position in SPX Technologies by 247.9% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after purchasing an additional 357 shares in the last quarter. Finally, Hilltop National Bank grew its holdings in SPX Technologies by 19.9% in the fourth quarter. Hilltop National Bank now owns 536 shares of the company’s stock valued at $78,000 after purchasing an additional 89 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.