Segall Bryant & Hamill LLC increased its position in shares of SPX Corp (NYSE:SPXC) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,005,441 shares of the company’s stock after buying an additional 108,542 shares during the period. Segall Bryant & Hamill LLC owned about 2.36% of SPX worth $29,500,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its stake in SPX by 40.7% in 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 increased its stake in SPX by 43.6% in the second quarter. Riverhead Capital Management LLC now owns 4,164 shares of the company’s stock valued at $105,000 after purchasing an additional 1,264 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in SPX in the third quarter valued at approximately $202,000. OxFORD Asset Management LLP purchased a new position in SPX in the third quarter valued at approximately $202,000. Finally, Milestone Group Inc. purchased a new position in SPX in the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 87.41% of the company’s stock.
In other SPX news, CAO Michael Andrew Reilly sold 3,833 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.59, for a total value of $117,251.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.
Shares of SPX Corp (NYSE SPXC) traded up $0.42 during midday trading on Friday, hitting $30.69. The company had a trading volume of 570,801 shares, compared to its average volume of 142,824. The company has a current ratio of 1.15, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. SPX Corp has a 52-week low of $21.97 and a 52-week high of $32.71. The firm has a market capitalization of $1,289.78, a P/E ratio of 16.19 and a beta of 1.72.
SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08. SPX had a positive return on equity of 37.49% and a negative net margin of 3.86%. The firm had revenue of $348.50 million during the quarter, compared to the consensus estimate of $343.12 million. During the same period last year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. research analysts expect that SPX Corp will post 1.8 EPS for the current year.
Several equities analysts have commented on the stock. BidaskClub upgraded shares of SPX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. ValuEngine downgraded SPX from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. TheStreet raised SPX from a “d+” rating to a “c” rating in a report on Monday, November 6th. Zacks Investment Research downgraded SPX from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, UBS increased their price objective on SPX from $36.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. SPX currently has a consensus rating of “Buy” and a consensus price target of $37.00.
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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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