Koch Industries Inc. Takes $309,000 Position in SPX Corp (SPXC)

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Koch Industries Inc. purchased a new position in shares of SPX Corp (NYSE:SPXC) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 9,513 shares of the company’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in SPX by 9.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 340,812 shares of the company’s stock valued at $10,699,000 after acquiring an additional 30,674 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in SPX in the fourth quarter valued at approximately $464,000. KBC Group NV raised its holdings in SPX by 3.9% in the fourth quarter. KBC Group NV now owns 173,816 shares of the company’s stock valued at $5,456,000 after acquiring an additional 6,548 shares in the last quarter. First Trust Advisors LP raised its holdings in SPX by 7.5% in the fourth quarter. First Trust Advisors LP now owns 176,239 shares of the company’s stock valued at $5,532,000 after acquiring an additional 12,220 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in SPX by 35.4% in the fourth quarter. Pinebridge Investments L.P. now owns 71,306 shares of the company’s stock valued at $2,239,000 after acquiring an additional 18,647 shares in the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:SPXC opened at $36.86 on Friday. The company has a market capitalization of $1.58 billion, a P/E ratio of 20.03 and a beta of 1.57. SPX Corp has a fifty-two week low of $23.41 and a fifty-two week high of $37.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.14 and a current ratio of 1.40.

SPX (NYSE:SPXC) last issued its earnings results on Thursday, May 3rd. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. SPX had a net margin of 5.87% and a return on equity of 29.40%. The firm had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $332.60 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. analysts predict that SPX Corp will post 2.25 earnings per share for the current fiscal year.

Several analysts recently weighed in on SPXC shares. Zacks Investment Research cut shares of SPX from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. ValuEngine cut shares of SPX from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $36.33.

SPX Profile

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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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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