SPX Co. (NASDAQ:SPXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “SPX Corporation is a provider of technical products and systems, industrial products and services, service solutions and vehicle components. These products are primarily sold to customers throughout North America and Europe. As a global multi-industry company, SPX is focused on profitably growing businesses that have scale and growth potential. These businesses are grouped into four different segments: Technical Products and Systems, Industrial Products and Services, Flow Technology and Service Solutions. “

Shares of SPX (NASDAQ:SPXC) traded down 0.39% during midday trading on Thursday, hitting $25.28. 51,288 shares of the stock were exchanged. The firm’s market cap is $1.07 billion. The firm has a 50 day moving average of $25.46 and a 200 day moving average of $24.78. SPX has a 12-month low of $14.05 and a 12-month high of $28.93.

SPX (NASDAQ:SPXC) last posted its earnings results on Thursday, May 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. SPX had a net margin of 3.02% and a return on equity of 20.52%. The business had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $320.94 million. During the same period in the previous year, the company posted $0.09 earnings per share. Equities analysts forecast that SPX will post $1.69 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Architects Inc boosted its position in SPX by 1.1% in the first quarter. Financial Architects Inc now owns 11,028 shares of the company’s stock worth $267,000 after buying an additional 123 shares during the last quarter. State of Alaska Department of Revenue boosted its position in SPX by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the company’s stock worth $113,000 after buying an additional 140 shares during the last quarter. Arizona State Retirement System boosted its position in SPX by 1.9% in the first quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock worth $534,000 after buying an additional 400 shares during the last quarter. Mason Street Advisors LLC boosted its position in SPX by 7.9% in the first quarter. Mason Street Advisors LLC now owns 9,874 shares of the company’s stock worth $239,000 after buying an additional 721 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in SPX by 2.3% in the first quarter. Russell Investments Group Ltd. now owns 34,176 shares of the company’s stock worth $829,000 after buying an additional 784 shares during the last quarter.

SPX 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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