UBS Group Increases SPX Technologies (NYSE:SPXC) Price Target to $142.00

SPX Technologies (NYSE:SPXC) had its price objective raised by analysts at UBS Group from $126.00 to $142.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 1.81% from the stock’s current price.

SPXC has been the subject of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. StockNews.com upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, 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. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.00.

SPX Technologies Trading Up 0.2 %

SPXC stock traded up $0.33 during trading on Wednesday, hitting $139.48. 20,130 shares of the company traded hands, compared to its average volume of 239,942. The firm has a market capitalization of $6.45 billion, a PE ratio of 67.86, a P/E/G ratio of 1.35 and a beta of 1.24. SPX Technologies has a 1 year low of $71.60 and a 1 year high of $140.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. The company has a 50-day moving average of $120.72 and a 200-day moving average of $104.53.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.19. The business had revenue of $465.20 million for 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%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. Analysts predict that SPX Technologies will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of the 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 owns 667,045 shares in the company, valued at $76,936,970.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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. Insiders sold a total of 94,373 shares of company stock worth $10,962,146 over the last 90 days. Corporate insiders own 3.53% of the company’s stock.

Institutional Trading of SPX Technologies

A number of large investors have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC grew its stake in SPX Technologies by 240.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 59,531 shares of the company’s stock valued at $6,013,000 after purchasing an additional 42,039 shares during the last quarter. Raymond James & Associates lifted its position in SPX Technologies by 153.2% during the fourth quarter. Raymond James & Associates now owns 24,895 shares of the company’s stock valued at $2,515,000 after acquiring an additional 15,063 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in SPX Technologies in the fourth quarter worth $2,303,000. FMR LLC increased 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 worth $108,990,000 after purchasing an additional 250,494 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of SPX Technologies by 16.7% during the 3rd quarter. Sei Investments Co. now owns 162,586 shares of the company’s stock valued at $13,235,000 after purchasing an additional 23,287 shares during the last quarter. 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.