SPX Technologies’ (SPXC) Outperform Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of SPX Technologies (NYSE:SPXC) in a report issued on Friday morning, Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Oppenheimer lifted their price objective on SPX Technologies from $134.00 to $140.00 and gave the stock an outperform rating in a report on Friday. UBS Group lifted their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Finally, StockNews.com upgraded shares of SPX Technologies from a hold rating to a buy rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of Moderate Buy and an average target price of $133.00.

SPX Technologies Stock Up 2.5 %

SPXC stock opened at $134.27 on Friday. The firm has a market capitalization 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 quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. SPX Technologies has a twelve month low of $70.84 and a twelve month high of $135.90. The stock’s 50 day moving average is $119.49 and its 200-day moving average is $103.68.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. The firm had revenue of $465.20 million for the quarter, compared to the consensus estimate of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. Sell-side analysts expect that SPX Technologies will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the completion of the transaction, the chief executive officer now directly owns 597,936 shares in the company, valued at $69,049,649.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider John William Swann III sold 32,325 shares of the 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 transaction, the insider now owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the sale, the chief executive officer now owns 597,936 shares in the company, valued at approximately $69,049,649.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,373 shares of company stock worth $10,962,146. Corporate insiders own 3.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPXC. Vanguard Group Inc. raised its stake in shares of SPX Technologies by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company’s stock worth $408,174,000 after acquiring an additional 50,178 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of SPX Technologies by 11.7% during the third quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company’s stock valued at $128,583,000 after buying an additional 165,544 shares during the last quarter. FMR LLC grew its stake 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. Artisan Partners Limited Partnership lifted its stake in shares of SPX Technologies by 15.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company’s stock valued at $81,800,000 after acquiring an additional 106,798 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of SPX Technologies by 0.3% in the 3rd quarter. Northern Trust Corp now owns 510,197 shares of the company’s stock valued at $41,530,000 after acquiring an additional 1,466 shares during the last quarter. 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.