SPX Technologies Inc (SPXC) CEO Eugene Joseph Lowe III Sells 190,048 Shares
On March 4, 2024, Eugene Joseph Lowe III, President and Chief Executive Officer of SPX Technologies Inc (NYSE:SPXC), sold 190,048 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing.
SPX Technologies Inc is a global supplier of highly engineered products and technologies, serving the HVAC, detection and measurement, and engineered solutions markets. The company offers a broad array of products and services that help customers solve complex problems in various industries, including energy, food and beverage, and infrastructure.
Over the past year, the insider has sold a total of 190,048 shares and has not made any purchases of the company's stock. The insider transaction history for SPX Technologies Inc shows a pattern of 12 insider sells and no insider buys over the past year.
On the day of the insider's recent sale, shares of SPX Technologies Inc were trading at $115.9, resulting in a market capitalization of $5.275 billion. The price-earnings ratio of the company stands at 60.45, which is above both the industry median of 15.255 and the historical median price-earnings ratio for the company.
The stock's price-to-GF-Value ratio is 1.34, with a GF Value of $86.55, indicating that SPX Technologies Inc is significantly overvalued according to GuruFocus's valuation model. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past performance, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not always indicative of future stock performance and may be influenced by various factors, including personal financial needs and portfolio diversification strategies.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
