SPX Technologies (NYSE:SPXC) Sets New 1-Year High – Here’s Why

SPX Technologies, Inc. (NYSE:SPXC) shares hit a new 52-week high on Thursday . The stock traded as high as $173.64 and last traded at $172.82, with a volume of 63671 shares. The stock had previously closed at $166.62.

SPX Technologies Trading Up 2.0 %

The firm has a fifty day moving average of $161.84 and a two-hundred day moving average of $151.02. The company has a market cap of $8.16 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.73 and a beta of 1.22. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 EPS. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current year.

Institutional Trading of SPX Technologies

A number of large investors have recently modified their holdings of the business. Assetmark Inc. lifted its position in SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock worth $278,000 after buying an additional 78 shares during the last quarter. Evergreen Capital Management LLC lifted its position in SPX Technologies by 4.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after buying an additional 146 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in SPX Technologies by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after buying an additional 158 shares during the last quarter. M&T Bank Corp lifted its position in SPX Technologies by 0.4% in the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock worth $5,986,000 after buying an additional 160 shares during the last quarter. Finally, KBC Group NV lifted its position in SPX Technologies by 14.3% in the 3rd quarter. KBC Group NV now owns 1,295 shares of the company’s stock worth $207,000 after buying an additional 162 shares during the last quarter. 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.