SPX Technologies, Inc. (NYSE:SPXC – Get Rating) – Investment analysts at William Blair boosted their Q4 2023 earnings estimates for shares of SPX Technologies in a research note issued to investors on Wednesday, June 7th. William Blair analyst L.De. Maria now anticipates that the company will post earnings per share of $1.31 for the quarter, up from their previous forecast of $1.25. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for SPX Technologies’ current full-year earnings is $3.99 per share.
SPX Technologies (NYSE:SPXC – Get Rating) last posted its earnings results on Thursday, May 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.33. The firm had revenue of $399.80 million during the quarter, compared to analyst estimates of $329.78 million. SPX Technologies had a net margin of 2.03% and a return on equity of 15.33%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS.
A number of other equity research analysts have also recently issued reports on the stock. TheStreet raised shares of SPX Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, May 25th. StockNews.com initiated coverage on shares of SPX Technologies in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Oppenheimer upped their target price on shares of SPX Technologies from $82.00 to $85.00 in a research report on Friday, May 5th.
SPX Technologies Price Performance
NYSE:SPXC opened at $84.58 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.08 and a quick ratio of 1.41. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 126.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.23. The company has a 50-day moving average price of $71.88 and a 200-day moving average price of $70.43. SPX Technologies has a 1-year low of $48.96 and a 1-year high of $85.50.
Insider Transactions at SPX Technologies
In related news, insider J Randall Data sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $70.22, for a total value of $877,750.00. Following the sale, the insider now owns 79,624 shares of the company’s stock, valued at $5,591,197.28. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In other news, VP John Webster Nurkin sold 11,133 shares of SPX Technologies stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $76.74, for a total transaction of $854,346.42. Following the completion of the transaction, the vice president now owns 88,196 shares of the company’s stock, valued at approximately $6,768,161.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider J Randall Data sold 12,500 shares of SPX Technologies stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $70.22, for a total value of $877,750.00. Following the sale, the insider now owns 79,624 shares of the company’s stock, valued at approximately $5,591,197.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,228 shares of company stock valued at $5,783,687. 4.02% of the stock is currently owned by corporate insiders.
Institutional Trading of SPX Technologies
Institutional investors have recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $35,000. Quadrant Capital Group LLC lifted its holdings in shares of SPX Technologies by 138.8% during the fourth quarter. Quadrant Capital Group LLC now owns 898 shares of the company’s stock valued at $59,000 after purchasing an additional 522 shares during the last quarter. Point72 Middle East FZE purchased a new stake in SPX Technologies in the 4th quarter worth about $73,000. Lazard Asset Management LLC purchased a new stake in SPX Technologies in the 3rd quarter worth about $82,000. Finally, Tower Research Capital LLC TRC lifted its stake in SPX Technologies by 247.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,222 shares of the company’s stock worth $86,000 after acquiring an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
About SPX Technologies
SPX Technologies, Inc engages in the supply of infrastructure equipment. It operates through the HVAC and Detection and Measurement segments. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions to the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.
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