SPX Corp (NASDAQ:SPXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “SPX Corporation is a global supplier of infrastructure equipment. The company, SPX 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. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products. Its detection and measurement product lines encompass underground pipe and cable locators, and inspection equipment. Within its power platform, it is a manufacturer of medium and large power transformers, as well as equipment for various types of power plant, including cooling equipment, heat exchangers and pollution control systems. SPX Corporation is headquartered in Charlotte, North Carolina. “

Several other analysts have also commented on the stock. TheStreet upgraded shares of SPX Corp from a “d+” rating to a “c” rating in a research report on Monday. UBS AG lifted their target price on shares of SPX Corp from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, BidaskClub upgraded shares of SPX Corp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th.

Shares of SPX Corp (SPXC) opened at $30.92 on Wednesday. SPX Corp has a 52-week low of $18.00 and a 52-week high of $32.71.

SPX Corp (NASDAQ:SPXC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The company had revenue of $348.50 million for the quarter, compared to analyst estimates of $343.12 million. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of SPX Corp by 54,864.3% in the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock valued at $133,635,000 after purchasing an additional 5,500,697 shares during the period. Vanguard Group Inc. boosted its position in SPX Corp by 12.1% during the second quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after acquiring an additional 455,828 shares during the last quarter. State Street Corp boosted its position in SPX Corp by 6.0% during the first quarter. State Street Corp now owns 1,019,770 shares of the company’s stock worth $24,727,000 after acquiring an additional 57,579 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in SPX Corp by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 967,014 shares of the company’s stock worth $24,330,000 after acquiring an additional 37,135 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its position in SPX Corp by 26.2% during the third quarter. Peregrine Capital Management LLC now owns 845,671 shares of the company’s stock worth $24,812,000 after acquiring an additional 175,601 shares during the last quarter.

SPX Corp Company 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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