SPX Corp (SPXC) Position Lifted by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its stake in SPX Corp (NYSE:SPXC) by 521.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,651 shares of the company’s stock after buying an additional 9,775 shares during the period. Russell Investments Group Ltd.’s holdings in SPX were worth $342,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of SPXC. Flinton Capital Management LLC lifted its holdings in shares of SPX by 40.7% during the second quarter. Flinton Capital Management LLC now owns 4,114 shares of the company’s stock valued at $103,000 after purchasing an additional 1,190 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in SPX by 43.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,164 shares of the company’s stock worth $105,000 after acquiring an additional 1,264 shares during the last quarter. Capital Fund Management S.A. purchased a new position in SPX in the 2nd quarter worth approximately $201,000. Suntrust Banks Inc. purchased a new position in SPX in the 2nd quarter worth approximately $202,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in SPX in the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 86.92% of the company’s stock.
A number of equities analysts recently weighed in on SPXC shares. Zacks Investment Research lowered shares of SPX from a “hold” rating to a “strong sell” rating in a report on Friday, January 5th. UBS Group began coverage on shares of SPX in a report on Tuesday, January 23rd. They issued a “buy” rating and a $41.00 price objective for the company. ValuEngine downgraded shares of SPX from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, TheStreet raised shares of SPX from a “d+” rating to a “c” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $38.00.
SPX (NYSE:SPXC) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. SPX had a negative net margin of 3.86% and a positive return on equity of 37.49%. The firm had revenue of $348.50 million during the quarter, compared to the consensus estimate of $343.12 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. equities analysts predict that SPX Corp will post 1.8 earnings per share for the current year.
In other news, CAO Michael Andrew Reilly sold 3,833 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $30.59, for a total transaction of $117,251.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.
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SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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