Rep. Josh Gottheimer Sells Off Shares of SPX Technologies, Inc. (NYSE:SPXC)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of SPX Technologies, Inc. (NYSE:SPXC). In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in SPX Technologies stock on December 6th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Block (NYSE:SQ) on 12/30/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 12/30/2024.
• Sold $1,001 – $15,000 in shares of Ambev (NYSE:ABEV) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Grupo Financiero Banorte (OTCMKTS:GBOOY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Cadre (NYSE:CDRE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Coloplast A/S (OTCMKTS:CLPBY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Intuitive Surgical (NASDAQ:ISRG) on 12/23/2024.
• Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 12/23/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/19/2024.

SPX Technologies Price Performance

NYSE SPXC opened at $148.58 on Friday. SPX Technologies, Inc. has a 52 week low of $97.55 and a 52 week high of $183.83. The firm has a market capitalization of $6.89 billion, a P/E ratio of 39.94, a PEG ratio of 1.25 and a beta of 1.30. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $158.02 and a 200-day moving average price of $155.23.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in SPX Technologies during the 3rd quarter valued at $28,000. Canada Pension Plan Investment Board purchased a new stake in SPX Technologies during the 2nd quarter valued at $28,000. ST Germain D J Co. Inc. purchased a new stake in SPX Technologies during the 3rd quarter valued at $44,000. Farther Finance Advisors LLC raised its holdings in SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock valued at $80,000 after buying an additional 357 shares during the period. Finally, Hilltop National Bank raised its holdings in SPX Technologies by 19.9% during the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock valued at $78,000 after buying an additional 89 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Wolfe Research initiated coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Finally, UBS Group dropped their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $168.50.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.