SPX Corp (SPXC) Holdings Cut by First Allied Advisory Services Inc.
First Allied Advisory Services Inc. lessened its holdings in SPX Corp (NYSE:SPXC) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,377 shares of the company’s stock after selling 12,334 shares during the quarter. First Allied Advisory Services Inc. owned 0.11% of SPX worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Ancora Advisors LLC grew its stake in SPX by 21.7% in the 1st quarter. Ancora Advisors LLC now owns 359,774 shares of the company’s stock valued at $11,686,000 after purchasing an additional 64,260 shares during the period. Swiss National Bank lifted its position in shares of SPX by 3.1% during the 1st quarter. Swiss National Bank now owns 74,118 shares of the company’s stock valued at $2,407,000 after buying an additional 2,200 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of SPX by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 335,442 shares of the company’s stock valued at $10,895,000 after buying an additional 16,598 shares during the last quarter. Interval Partners LP lifted its position in shares of SPX by 142.2% during the 1st quarter. Interval Partners LP now owns 159,899 shares of the company’s stock valued at $5,194,000 after buying an additional 93,887 shares during the last quarter. Finally, Overbrook Management Corp lifted its position in shares of SPX by 98.9% during the 1st quarter. Overbrook Management Corp now owns 393,682 shares of the company’s stock valued at $12,787,000 after buying an additional 195,747 shares during the last quarter. Hedge funds and other institutional investors own 88.11% of the company’s stock.
SPXC has been the topic of a number of recent research reports. ValuEngine raised SPX from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, July 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.00.
SPX (NYSE:SPXC) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The business had revenue of $379.20 million for the quarter, compared to analysts’ expectations of $354.20 million. SPX had a return on equity of 27.30% and a net margin of 7.93%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. research analysts expect that SPX Corp will post 2.3 EPS for the current year.
In related news, insider Michael Andrew Reilly sold 21,852 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $35.82, for a total transaction of $782,738.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.
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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