SPX Technologies (NYSE:SPXC) Given New $142.00 Price Target at UBS Group

SPX Technologies (NYSE:SPXC) had its target price raised by UBS Group from $126.00 to $142.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently issued reports on the company. Oppenheimer lifted their price objective on SPX Technologies from $134.00 to $140.00 and gave the company an outperform rating in a research report on Friday, May 3rd. William Blair reaffirmed an outperform rating on shares of SPX Technologies in a research note on Friday, May 3rd. Finally, StockNews.com upgraded SPX Technologies from a hold rating to a buy rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SPX Technologies has an average rating of Moderate Buy and a consensus target price of $141.00.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded up $2.78 during trading on Wednesday, hitting $136.70. 17,361 shares of the company’s stock traded hands, compared to its average volume of 239,795. SPX Technologies has a twelve month low of $71.57 and a twelve month high of $136.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70. The company has a market cap of $6.32 billion, a PE ratio of 65.33, a PEG ratio of 1.35 and a beta of 1.24. The firm’s fifty day moving average price is $120.28 and its 200 day moving average price is $104.29.

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, beating analysts’ consensus estimates of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The company had revenue of $465.20 million for the quarter, compared to the consensus estimate of $454.05 million. During the same period in the previous year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts forecast that SPX Technologies will post 5.38 earnings per share for the current year.

Insider Buying and Selling

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was 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 $9,747,987.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the sale, the chief executive officer now owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $3,801,743.25. Following the completion of the sale, the insider now owns 82,884 shares in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. Insiders have sold 94,373 shares of company stock valued at $10,962,146 in the last 90 days. 3.53% of the stock is owned by insiders.

Institutional Trading of SPX Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in SPX Technologies during the 4th quarter valued at $48,528,000. Brown Advisory Inc. lifted its stake in shares of SPX Technologies by 416.7% during the 4th quarter. Brown Advisory Inc. now owns 435,596 shares of the company’s stock worth $44,000,000 after buying an additional 351,289 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of SPX Technologies by 74.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 703,026 shares of the company’s stock worth $57,226,000 after buying an additional 301,084 shares during the period. Capital World Investors acquired a new position in SPX Technologies in the 4th quarter valued at about $29,121,000. Finally, FMR LLC raised its holdings in SPX Technologies by 23.0% in the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company’s stock valued at $108,990,000 after acquiring an additional 250,494 shares during the period. 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.