SPX Technologies (NYSE:SPXC) Receives Outperform Rating from William Blair

William Blair restated their outperform rating on shares of SPX Technologies (NYSE:SPXC) in a research note released on Friday morning, Zacks.com reports.

SPXC has been the subject of a number of other research reports. UBS Group upped their price target on SPX Technologies from $90.00 to $126.00 and gave the stock a neutral rating in a research report on Wednesday, March 27th. StockNews.com raised shares of SPX Technologies from a hold rating to a buy rating in a report on Friday. Finally, Oppenheimer raised their price objective on shares of SPX Technologies from $134.00 to $140.00 and gave the company an outperform rating in a research report on Friday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $133.00.

SPX Technologies Price Performance

Shares of SPXC opened at $134.27 on Friday. The firm has a fifty day simple moving average of $119.49 and a two-hundred day simple moving average of $103.68. The firm has a market cap of $6.21 billion, a PE ratio of 65.50, a P/E/G ratio of 1.35 and a beta of 1.24. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. SPX Technologies has a 1-year low of $70.84 and a 1-year high of $135.90.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.19. The company 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%. SPX Technologies’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities analysts anticipate that SPX Technologies will post 5.38 EPS for the current year.

Insider Activity

In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were 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 directly owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction on 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 completion of the transaction, the insider now directly owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the sale, 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. Insiders have sold a total of 94,373 shares of company stock worth $10,962,146 over the last quarter. Insiders own 3.53% of the company’s stock.

Institutional Trading of SPX Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. YHB Investment Advisors Inc. bought a new position in SPX Technologies during the first quarter valued at $51,000. Palisade Asset Management LLC bought a new position in SPX Technologies during the 1st quarter valued at about $74,000. TFO Wealth Partners LLC raised its position in SPX Technologies by 58,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after purchasing an additional 1,168 shares during the period. Quadrant Capital Group LLC lifted its stake in SPX Technologies by 54.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after purchasing an additional 475 shares during the last quarter. Finally, First Trust Direct Indexing L.P. bought a new position in shares of SPX Technologies during the first quarter valued at approximately $203,000. Hedge funds and other 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.