Arizona State Retirement System reduced its position in SPX Corp (NYSE:SPXC) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,503 shares of the company’s stock after selling 5,013 shares during the quarter. Arizona State Retirement System owned approximately 0.15% of SPX worth $2,191,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of SPX during the 2nd quarter valued at $445,000. Rhumbline Advisers raised its stake in SPX by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 103,116 shares of the company’s stock valued at $3,614,000 after purchasing an additional 3,688 shares during the period. Engineers Gate Manager LP acquired a new stake in SPX during the 2nd quarter valued at $870,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in SPX during the 2nd quarter valued at $319,000. Finally, KBC Group NV raised its stake in SPX by 27.9% during the 2nd quarter. KBC Group NV now owns 275,649 shares of the company’s stock valued at $9,661,000 after purchasing an additional 60,154 shares during the period. 87.13% of the stock is owned by institutional investors.
In other SPX news, insider Michael Andrew Reilly sold 21,852 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $35.82, for a total transaction of $782,738.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.
Shares of NYSE:SPXC opened at $33.95 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 1.14. SPX Corp has a 12-month low of $23.94 and a 12-month high of $39.28. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 18.89 and a beta of 1.51.
SPX (NYSE:SPXC) last announced its earnings results on Thursday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.06. SPX had a net margin of 7.93% and a return on equity of 27.30%. The company had revenue of $379.20 million for the quarter, compared to the consensus estimate of $354.20 million. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was up 8.4% on a year-over-year basis. sell-side analysts forecast that SPX Corp will post 2.3 earnings per share for the current fiscal year.
Several analysts have issued reports on SPXC shares. Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, July 10th. ValuEngine raised shares of SPX from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.00.
SPX Corporation supplies infrastructure equipment serving the heating and ventilation (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates through three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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