Insider Selling: SPX Technologies, Inc. (NYSE:SPXC) Director Sells 6,823 Shares of 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 transaction, the director now directly owns 33,770 shares of the company's stock, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

SPX Technologies Price Performance

Shares of NYSE:SPXC traded down $0.55 during trading on Friday, reaching $152.20. The company had a trading volume of 229,096 shares, compared to its average volume of 278,943. The firm's fifty day moving average is $139.29 and its 200 day moving average is $146.46. The firm has a market capitalization of $7.11 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

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

Institutional Trading of SPX Technologies

A number of institutional investors have recently made changes to their positions in SPXC. Allworth Financial LP lifted its stake in shares of SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC bought a new stake in shares of SPX Technologies in the 4th quarter worth approximately $27,000. NBC Securities Inc. bought a new stake in shares of SPX Technologies in the 1st quarter worth approximately $27,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after purchasing an additional 185 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of SPX Technologies by 377.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. B. Riley assumed coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price for the company. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of "Buy" and a consensus price target of $178.80.

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.