First Trust Advisors LP Purchases New Stake in SPX Corp (SPXC)
First Trust Advisors LP acquired a new stake in shares of SPX Corp (NASDAQ:SPXC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 199,523 shares of the company’s stock, valued at approximately $5,020,000. First Trust Advisors LP owned about 0.47% of SPX Corp as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in SPX Corp during the first quarter valued at approximately $113,000. State of Alaska Department of Revenue increased its stake in SPX Corp by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the company’s stock valued at $113,000 after buying an additional 140 shares during the period. Quantbot Technologies LP acquired a new stake in SPX Corp during the first quarter valued at approximately $148,000. AXA acquired a new stake in SPX Corp during the first quarter valued at approximately $201,000. Finally, Mason Street Advisors LLC increased its stake in SPX Corp by 7.9% in the first quarter. Mason Street Advisors LLC now owns 9,874 shares of the company’s stock valued at $239,000 after buying an additional 721 shares during the period.
Shares of SPX Corp (NASDAQ SPXC) opened at 24.10 on Friday. The firm’s 50-day moving average is $26.18 and its 200 day moving average is $25.32. The stock’s market capitalization is $1.02 billion. SPX Corp has a 12-month low of $15.49 and a 12-month high of $29.25.
SPX Corp (NASDAQ:SPXC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. The company had revenue of $349.70 million during the quarter, compared to the consensus estimate of $354.84 million. SPX Corp had a negative return on equity of 15.86% and a negative net margin of 2.37%. SPX Corp’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. On average, equities research analysts forecast that SPX Corp will post $1.75 EPS for the current fiscal year.
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Separately, Zacks Investment Research raised shares of SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, August 8th.
About SPX Corp
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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