SPX Technologies Director Brian Deck Buys $493,020 in Shares After Slide
SPX Technologies independent director Brian Deck bought 3,000 shares for $493,020 on November 3, days before Wall Street's worst session in over a year. The NYSE-listed industrial supplier's stock has fallen almost 21% in a month and sits near the bottom of its 52-week range.
SPX Technologies Inc. (NYSE:SPXC) independent board member Brian Deck bought 3,000 shares of the company for a total of $493,020 on November 3, according to insider purchase records. The buy came after a steep slide in the stock.
It lifted Deck's total holdings in the company to 3,742 shares.
The purchase was an open-market buy, paid for from personal funds. Stock awards and option exercises are excluded from this category, because executives and directors receive them as compensation rather than choosing to buy.
Stock near bottom of its range
SPX Technologies supplies engineered infrastructure equipment and technologies, covering the HVAC (heating, ventilation and air conditioning) and detection and measurement segments.
The shares closed at $142.71 on November 6. That extends the stock's decline for 2026 to more than 24%. Over the month to November 6, the price fell almost 21%.
Over the past 52 weeks the stock has traded between $137.86 and $251.08. The closing price sits just above the bottom of that range.
The company's market capitalization stands at $7.15 billion. Its trailing price-to-earnings ratio, which compares the share price with the past year's earnings, is 23.75x. Its forward ratio, based on expected earnings, is 14.41x. The lower forward figure means analysts expect earnings to grow over the coming year.
Backdrop: Wall Street's rout
The wider market had a bad week. On Thursday, November 5, the Nasdaq Composite dropped 5.52%, the S&P 500 fell 4.36% and the Dow shed 3.44%. It was the worst session for the US market in more than a year.
Concerns about weaker spending on artificial intelligence reversed the rally that followed the midterm elections. Almost $2.5 trillion was wiped from the US market. Semiconductors were hit hardest, and the technology sector dropped almost 8%.
SPX Technologies was among the stocks with a notable amount of insider buying between October 6 and November 6. Deck's purchase predates the November 5 session, so it followed the company's own earlier decline rather than that day's rout.
Insiders, including executives and directors, know more about a company's growth prospects, margins and product pipeline than outside investors do. A purchase does not guarantee a recovery in the share price.
Hedge fund positioning has edged up. The number of hedge funds holding the stock rose to 39 at the end of the second quarter of 2026, from 36 in the previous quarter, according to 13F regulatory filings.
