SPX Technologies (NYSE:SPXC) Director Brian Deck Purchases 3,000 Shares of Stock

SPX Technologies, Inc. (NYSE:SPXC) Director Brian Deck bought 3,000 shares of SPX Technologies stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average cost of $164.34 per share, with a total value of $493,020.00. Following the acquisition, the director directly owned 3,742 shares in the company, valued at $614,960.28. This trade represents a 404.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SPX Technologies Stock Performance

SPXC traded down $15.16 on Thursday, reaching $138.31. The company had a trading volume of 1,140,879 shares, compared to its average volume of 582,112. SPX Technologies, Inc. has a fifty-two week low of $137.86 and a fifty-two week high of $251.08. The stock has a market cap of $6.93 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.08 and a beta of 1.26. The company’s fifty day moving average is $175.98 and its 200 day moving average is $206.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.84.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, October 29th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.09. The firm had revenue of $714.50 million for the quarter, compared to analysts’ expectations of $710.38 million. SPX Technologies had a net margin of 11.48% and a return on equity of 16.96%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. As a group, analysts predict that SPX Technologies, Inc. will post 8.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPXC has been the subject of several research reports. Wolfe Research started coverage on SPX Technologies in a report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price target for the company. Citigroup reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, October 30th. Wells Fargo & Company dropped their target price on SPX Technologies from $250.00 to $243.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Robert W. Baird initiated coverage on shares of SPX Technologies in a research report on Monday, October 5th. They issued an “outperform” rating and a $220.00 target price for the company. Finally, Oppenheimer decreased their price target on shares of SPX Technologies from $265.00 to $260.00 and set an “outperform” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.36.

Institutional Investors Weigh In On SPX Technologies

A number of large investors have recently added to or reduced their stakes in SPXC. Group One Trading LLC acquired a new position in SPX Technologies in the 2nd quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of SPX Technologies during the 2nd quarter valued at $47,000. Summit Securities Group LLC acquired a new stake in shares of SPX Technologies during the 1st quarter worth $51,000. Harbor Investment Advisory LLC bought a new position in shares of SPX Technologies in the second quarter worth $70,000. Finally, Allworth Financial LP acquired a new position in SPX Technologies in the second quarter valued at about $70,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.