First Allied Advisory Services Inc. Sells 1,370 Shares of SPX Corp (SPXC)
First Allied Advisory Services Inc. reduced its holdings in shares of SPX Corp (NASDAQ:SPXC) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,539 shares of the company’s stock after selling 1,370 shares during the period. First Allied Advisory Services Inc. owned 0.16% of SPX Corp worth $1,666,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in SPX Corp by 54,864.3% during the 1st quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock valued at $133,635,000 after acquiring an additional 5,500,697 shares during the period. Vanguard Group Inc. lifted its position in SPX Corp by 12.1% during the 2nd 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 during the period. Oppenheimer Asset Management Inc. purchased a new position in SPX Corp during the 1st quarter valued at about $25,177,000. State Street Corp lifted its position in SPX Corp by 6.0% during the 1st quarter. State Street Corp now owns 1,019,770 shares of the company’s stock valued at $24,727,000 after acquiring an additional 57,579 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in SPX Corp by 4.0% during the 2nd 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 during the period.
Shares of SPX Corp (NASDAQ:SPXC) traded down 0.61% on Friday, reaching $29.34. 291,716 shares of the company’s stock traded hands. SPX Corp has a 12-month low of $15.49 and a 12-month high of $29.51. The stock has a 50-day moving average price of $25.53 and a 200-day moving average price of $25.30. The company’s market cap is $1.25 billion.
SPX Corp (NASDAQ:SPXC) last issued its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.09. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The company had revenue of $349.70 million for the quarter, compared to analysts’ expectations of $354.84 million. During the same period in the prior year, the business earned $0.33 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that SPX Corp will post $1.75 EPS for the current fiscal year.
Several research analysts have issued reports on SPXC shares. BidaskClub raised shares of SPX Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Investment Research raised shares of SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, August 8th.
SPX Corp Profile
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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