SPX Technologies (NYSE:SPXC) Stock Price Down 6% – Should You Sell?

SPX Technologies, Inc. (NYSE:SPXC) fell 6% on Tuesday . The company traded as low as $194.55 and last traded at $193.19. 20,404 shares were traded during mid-day trading, a decline of 90% from the average session volume of 200,695 shares. The stock had previously closed at $205.44.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPXC shares. Bank of America started coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price on the stock. TD Cowen initiated coverage on shares of SPX Technologies in a research report on Monday, November 10th. They set a “hold” rating and a $225.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Truist Financial boosted their price target on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and an average price target of $214.14.

SPX Technologies Stock Down 6.4%

The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $9.58 billion, a PE ratio of 41.17, a PEG ratio of 1.70 and a beta of 1.33. The firm’s fifty day moving average is $210.73 and its 200-day moving average is $193.18.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. The company had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Insider Buying and Selling at SPX Technologies

In other news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the transaction, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This represents a 23.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John William Swann III sold 38,755 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This represents a 37.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.32% of the stock is currently owned by insiders.

Institutional Trading of SPX Technologies

Large investors have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. acquired a new position in shares of SPX Technologies during the 3rd quarter worth $28,000. Cullen Frost Bankers Inc. grew its stake in SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. Optiver Holding B.V. increased its holdings in SPX Technologies by 110.5% during the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after acquiring an additional 84 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in SPX Technologies during the 2nd quarter valued at about $31,000. Finally, Financial Consulate Inc. purchased a new stake in shares of SPX Technologies in the third quarter valued at about $34,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.