SPX Technologies (NYSE:SPXC) Sets New 12-Month High at $124.81

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $124.81 and last traded at $124.07, with a volume of 68020 shares trading hands. The stock had previously closed at $121.27.

Analyst Ratings Changes

A number of research firms recently issued reports on SPXC. UBS Group upped their price target on shares of SPX Technologies from $90.00 to $126.00 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. StockNews.com downgraded shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. Finally, Oppenheimer reissued an "outperform" rating and issued a $134.00 target price (up previously from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.00.

SPX Technologies Trading Down 0.6 %

The firm has a market cap of $5.51 billion, a PE ratio of 62.81, a P/E/G ratio of 1.31 and a beta of 1.25. The company has a quick ratio of 1.08, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The company's 50 day moving average price is $112.66 and its two-hundred day moving average price is $96.95.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The business had revenue of $469.40 million for the quarter, compared to the consensus estimate of $481.98 million. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.03 EPS for the current year.

Insider Transactions at SPX Technologies

In other news, insider John William Swann III sold 32,325 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the transaction, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider John William Swann III sold 32,325 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the transaction, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the transaction, the chief executive officer now owns 667,045 shares in the company, valued at $76,936,970.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,373 shares of company stock worth $10,962,146. Insiders own 4.02% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPXC. Norges Bank bought a new position in SPX Technologies during the 4th quarter worth about $48,528,000. Brown Advisory Inc. lifted its position in shares of SPX Technologies by 416.7% during the fourth quarter. Brown Advisory Inc. now owns 435,596 shares of the company's stock valued at $44,000,000 after buying an additional 351,289 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of SPX Technologies by 74.9% during the third quarter. Artisan Partners Limited Partnership now owns 703,026 shares of the company's stock valued at $57,226,000 after buying an additional 301,084 shares during the last quarter. Capital World Investors purchased a new stake in shares of SPX Technologies during the fourth quarter valued at about $29,121,000. Finally, FMR LLC lifted its position in shares of SPX Technologies by 23.0% during the third quarter. FMR LLC now owns 1,338,942 shares of the company's stock valued at $108,990,000 after buying an additional 250,494 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

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.