Overbrook Management Corp acquired a new stake in SPX Corp (NYSE:SPXC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 197,935 shares of the company’s stock, valued at approximately $6,213,000. SPX makes up about 1.3% of Overbrook Management Corp’s holdings, making the stock its 22nd biggest position.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. OxFORD Asset Management LLP bought a new position in shares of SPX in the 3rd quarter worth $202,000. Milestone Group Inc. bought a new position in shares of SPX in the 3rd quarter worth $206,000. IFC Holdings Incorporated FL bought a new position in shares of SPX in the 4th quarter worth $207,000. Royal Bank of Canada boosted its position in shares of SPX by 6.6% in the 2nd quarter. Royal Bank of Canada now owns 8,857 shares of the company’s stock worth $223,000 after purchasing an additional 549 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of SPX in the 3rd quarter worth $232,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.
Several brokerages recently commented on SPXC. UBS Group raised their price objective on SPX from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Tuesday, November 7th. TheStreet raised SPX from a “d+” rating to a “c” rating in a research note on Monday, November 6th. ValuEngine downgraded SPX from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Susquehanna Bancshares set a $32.00 price objective on SPX and gave the stock a “hold” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.00.
SPX (NYSE:SPXC) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). The business had revenue of $387.00 million for the quarter, compared to analyst estimates of $396.35 million. SPX had a return on equity of 31.70% and a net margin of 6.26%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. analysts expect that SPX Corp will post 2.1 earnings per share for the current fiscal year.
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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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