American International Group Inc. Has $989,000 Stake in SPX Corp (SPXC)
American International Group Inc. grew its stake in shares of SPX Corp (NYSE:SPXC) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,705 shares of the company’s stock after purchasing an additional 1,835 shares during the quarter. American International Group Inc. owned approximately 0.08% of SPX worth $989,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of SPX by 12.1% during the second quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock valued at $106,465,000 after acquiring an additional 455,828 shares in the last quarter. Rothschild Asset Management Inc. raised its holdings in shares of SPX by 506.5% during the third quarter. Rothschild Asset Management Inc. now owns 1,168,111 shares of the company’s stock valued at $34,272,000 after acquiring an additional 975,500 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SPX by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 967,014 shares of the company’s stock valued at $24,330,000 after acquiring an additional 37,135 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of SPX by 26.2% during the third quarter. Peregrine Capital Management LLC now owns 845,671 shares of the company’s stock valued at $24,812,000 after acquiring an additional 175,601 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of SPX by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 554,448 shares of the company’s stock valued at $13,949,000 after acquiring an additional 13,904 shares in the last quarter. 86.85% of the stock is owned by hedge funds and other institutional investors.
In other SPX news, CAO Michael Andrew Reilly sold 3,833 shares of the 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 accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.
SPX (NYSE:SPXC) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The business had revenue of $348.50 million during the quarter, compared to the consensus estimate of $343.12 million. SPX had a positive return on equity of 37.49% and a negative net margin of 3.86%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. equities analysts forecast that SPX Corp will post 1.8 EPS for the current year.
A number of equities analysts recently commented on the company. BidaskClub upgraded SPX from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Zacks Investment Research downgraded SPX from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine downgraded SPX from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. TheStreet upgraded SPX from a “d+” rating to a “c” rating in a report on Monday, November 6th. Finally, UBS increased their price objective on SPX from $36.00 to $39.00 and gave the stock 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 given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average 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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