Insider Selling: SPX Technologies, Inc. (NYSE:SPXC) CEO Sells 27,048 Shares of Stock

SPX Technologies, Inc. (NYSE:SPXCGet Free Report) CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 597,936 shares of the company’s stock, valued at approximately $69,049,649.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Eugene Joseph Lowe III also recently made the following trade(s):

  • On Monday, March 4th, Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00.

SPX Technologies Stock Up 0.5 %

Shares of NYSE SPXC traded up $0.59 during midday trading on Monday, hitting $115.41. The company’s stock had a trading volume of 207,927 shares, compared to its average volume of 226,573. The business’s fifty day simple moving average is $104.24 and its two-hundred day simple moving average is $90.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. SPX Technologies, Inc. has a 1 year low of $61.09 and a 1 year high of $117.47. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 59.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25.

SPX Technologies (NYSE:SPXCGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The company had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts predict that SPX Technologies, Inc. will post 5.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in SPX Technologies by 1.2% in the first quarter. BlackRock Inc. now owns 7,539,474 shares of the company’s stock worth $532,136,000 after acquiring an additional 92,143 shares during the last quarter. Vanguard Group Inc. raised its holdings in SPX Technologies by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company’s stock worth $408,174,000 after purchasing an additional 50,178 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in SPX Technologies by 3.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,265,310 shares of the company’s stock worth $280,018,000 after purchasing an additional 160,366 shares in the last quarter. State Street Corp raised its holdings in SPX Technologies by 1.2% during the first quarter. State Street Corp now owns 1,666,386 shares of the company’s stock worth $117,614,000 after purchasing an additional 20,510 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in SPX Technologies by 11.7% during the third quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company’s stock worth $128,583,000 after purchasing an additional 165,544 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SPXC. StockNews.com raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Oppenheimer reissued an “outperform” rating and issued a $124.00 price objective (up previously from $118.00) on shares of SPX Technologies in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

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SPX Technologies Company Profile

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SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.

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Insider Buying and Selling by Quarter for SPX Technologies (NYSE:SPXC)

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