Cramer Rosenthal Mcglynn LLC lowered its stake in SPX Corp (NYSE:SPXC) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 726,397 shares of the company’s stock after selling 17,105 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 1.65% of SPX worth $23,986,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in SPX by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,101,174 shares of the company’s stock worth $30,843,000 after buying an additional 80,267 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of SPX by 634.7% in the first quarter. BNP Paribas Arbitrage SA now owns 9,977 shares of the company’s stock valued at $347,000 after purchasing an additional 8,619 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of SPX by 71.9% in the first quarter. Bank of Montreal Can now owns 2,053 shares of the company’s stock valued at $71,000 after purchasing an additional 859 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of SPX by 333.8% in the first quarter. SG Americas Securities LLC now owns 17,153 shares of the company’s stock valued at $597,000 after purchasing an additional 13,199 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of SPX by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 40,977 shares of the company’s stock valued at $1,426,000 after purchasing an additional 3,252 shares during the last quarter. 87.39% of the stock is currently owned by institutional investors.
Shares of SPXC stock traded up $0.50 on Friday, hitting $41.27. The stock had a trading volume of 617 shares, compared to its average volume of 214,057. SPX Corp has a 12-month low of $25.22 and a 12-month high of $40.88. The business has a 50 day moving average of $36.95 and a 200 day moving average of $34.69. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.17 and a quick ratio of 0.84. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 18.77 and a beta of 1.41.
SPX (NYSE:SPXC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.15. SPX had a net margin of 4.21% and a return on equity of 26.81%. The business had revenue of $372.40 million during the quarter, compared to the consensus estimate of $354.65 million. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, research analysts expect that SPX Corp will post 2.7 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of SPX from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, August 9th.
SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (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 in three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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