SPX Technologies (NYSE:SPXC) Reaches New 1-Year High at $165.13

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $165.13 and last traded at $162.44, with a volume of 113914 shares trading hands. The stock had previously closed at $163.11.

Analyst Ratings Changes

Separately, Oppenheimer cut SPX Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 18th.

SPX Technologies Trading Down 0.4 %

The stock has a market cap of $7.52 billion, a PE ratio of 79.26, a PEG ratio of 1.54 and a beta of 1.22. The stock's fifty day moving average price is $151.13 and its 200 day moving average price is $137.79. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.17. The business had revenue of $501.30 million during the quarter, compared to analyst estimates of $492.08 million. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The company's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. On average, sell-side analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider J Randall Data sold 39,412 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the transaction, the insider now owns 52,657 shares in the company, valued at $7,576,815.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.53% of the stock is owned by insiders.

Institutional Trading of SPX Technologies

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of SPX Technologies by 160.6% during the 1st quarter. Nordea Investment Management AB now owns 382,490 shares of the company's stock valued at $47,069,000 after purchasing an additional 235,720 shares during the period. GSA Capital Partners LLP bought a new stake in SPX Technologies during the first quarter valued at approximately $1,522,000. Victory Capital Management Inc. increased its holdings in SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company's stock valued at $10,485,000 after buying an additional 10,010 shares during the last quarter. Capital World Investors raised its position in SPX Technologies by 31.7% in the first quarter. Capital World Investors now owns 379,569 shares of the company's stock worth $46,736,000 after acquiring an additional 91,266 shares during the period. Finally, Norges Bank purchased a new position in shares of SPX Technologies during the 4th quarter worth $48,528,000. 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.