Rick D. Puckett Sells 6,823 Shares of SPX Technologies, Inc. (NYSE:SPXC) Stock

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) Director Rick D. Puckett sold 6,823 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the sale, the director now owns 33,770 shares of the company's stock, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

SPX Technologies Stock Performance

NYSE SPXC traded up $3.21 during trading on Tuesday, reaching $158.29. 234,552 shares of the company's stock were exchanged, compared to its average volume of 278,764. The business has a 50 day moving average price of $139.67 and a 200-day moving average price of $146.28. The stock has a market capitalization of $7.39 billion, a P/E ratio of 42.55, a PEG ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $482.60 million during the quarter, compared to analysts' expectations of $481.32 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business's revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $160.00 to $182.00 in a report on Monday. B. Riley began coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. Finally, Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $183.20.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after acquiring an additional 89,770 shares during the period. Invesco Ltd. boosted its stake in shares of SPX Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock valued at $167,462,000 after buying an additional 37,468 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of SPX Technologies by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock valued at $102,920,000 after buying an additional 11,400 shares during the period. Janus Henderson Group PLC boosted its stake in shares of SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock valued at $105,321,000 after buying an additional 26,995 shares during the period. Finally, FMR LLC boosted its stake in shares of SPX Technologies by 8.5% in the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after buying an additional 56,175 shares during the period. Institutional investors own 92.82% of the company's stock.

About SPX Technologies

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.