SPX Technologies (NYSE:SPXC) Sets New 1-Year High at $146.80

Shares of SPX Technologies, Inc. (NYSE:SPXC) hit a new 52-week high on Wednesday . The stock traded as high as $146.80 and last traded at $146.60, with a volume of 174616 shares changing hands. The stock had previously closed at $140.53.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SPXC shares. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. William Blair restated an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Oppenheimer increased their price objective on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, UBS Group increased their price objective on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th.

SPX Technologies Trading Up 4.3 %

The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $138.89 and a two-hundred day simple moving average of $120.84. The firm has a market cap of $6.78 billion, a PE ratio of 68.57, a PEG ratio of 1.49 and a beta of 1.20.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.19. The business had revenue of $465.20 million during the quarter, compared to analysts’ expectations of $454.05 million. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. Equities analysts forecast that SPX Technologies, Inc. will post 5.36 EPS for the current year.

Insider Activity

In other news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $143.89, for a total value of $5,670,992.68. Following the completion of the transaction, the insider now owns 52,657 shares in the company, valued at approximately $7,576,815.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPXC. Sei Investments Co. increased its position in SPX Technologies by 16.7% during the 3rd quarter. Sei Investments Co. now owns 162,586 shares of the company’s stock valued at $13,235,000 after buying an additional 23,287 shares in the last quarter. Graham Capital Management L.P. increased its position in SPX Technologies by 180.3% during the 3rd quarter. Graham Capital Management L.P. now owns 9,223 shares of the company’s stock valued at $751,000 after buying an additional 5,933 shares in the last quarter. Vanguard Group Inc. increased its position in SPX Technologies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company’s stock valued at $408,174,000 after buying an additional 50,178 shares in the last quarter. Raymond James Trust N.A. bought a new position in SPX Technologies during the 4th quarter valued at approximately $233,000. Finally, Moody National Bank Trust Division increased its position in SPX Technologies by 22.9% during the 4th quarter. Moody National Bank Trust Division now owns 18,936 shares of the company’s stock valued at $1,913,000 after buying an additional 3,534 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

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.