Thrivent Financial For Lutherans increased its stake in SPX Corp (NYSE:SPXC) by 32.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,760 shares of the company’s stock after purchasing an additional 97,658 shares during the period. Thrivent Financial For Lutherans’ holdings in SPX were worth $12,454,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Royal Bank of Canada raised its position in 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. The Manufacturers Life Insurance Company raised its position in SPX by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,098 shares of the company’s stock worth $833,000 after purchasing an additional 1,517 shares during the last quarter. American International Group Inc. grew its holdings in SPX by 5.8% during the 3rd quarter. American International Group Inc. now owns 33,705 shares of the company’s stock worth $989,000 after acquiring an additional 1,835 shares during the period. UBS Asset Management Americas Inc. grew its holdings in SPX by 10.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 21,360 shares of the company’s stock worth $670,000 after acquiring an additional 1,934 shares during the period. Finally, Capital One National Association grew its holdings in SPX by 1.8% during the 4th quarter. Capital One National Association now owns 116,414 shares of the company’s stock worth $3,655,000 after acquiring an additional 2,056 shares during the period. Hedge funds and other institutional investors own 87.34% of the company’s stock.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of SPX from a “hold” rating to a “strong sell” rating in a report on Friday, January 5th. ValuEngine raised shares of SPX from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Susquehanna Bancshares set a $32.00 target price on shares of SPX and gave the stock a “hold” rating in a report on Friday, February 16th. TheStreet raised shares of SPX from a “c” rating to a “b-” rating in a report on Thursday, February 15th. Finally, UBS Group assumed coverage on shares of SPX in a report on Tuesday, January 23rd. They set a “buy” rating and a $41.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. SPX presently has an average rating of “Buy” and a consensus price target of $36.00.
SPX (NYSE:SPXC) last released its earnings results on Thursday, February 15th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). SPX had a return on equity of 31.70% and a net margin of 6.26%. The business had revenue of $387.00 million for the quarter, compared to analyst estimates of $396.35 million. During the same period in the prior year, the firm posted $0.69 EPS. SPX’s revenue was down 2.1% on a year-over-year basis. equities analysts forecast 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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