Northern Trust Corp raised its holdings in SPX Corp (NYSE:SPXC) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 532,931 shares of the company’s stock after buying an additional 8,107 shares during the quarter. Northern Trust Corp owned about 1.24% of SPX worth $18,679,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Squar Milner Financial Services LLC purchased a new stake in SPX in the second quarter valued at about $134,000. Evanson Asset Management LLC purchased a new stake in SPX in the second quarter valued at about $205,000. Aristotle Atlantic Partners LLC purchased a new stake in SPX in the second quarter valued at about $211,000. Crossmark Global Holdings Inc. purchased a new stake in SPX in the second quarter valued at about $213,000. Finally, Amalgamated Bank purchased a new stake in SPX in the second quarter valued at about $241,000. Institutional investors own 87.00% of the company’s stock.
A number of brokerages have recently weighed in on SPXC. ValuEngine lowered SPX from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, July 10th. Finally, Buckingham Research began coverage on SPX in a report on Tuesday, September 18th. They issued a “buy” rating and a $41.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.75.
In other news, insider Michael Andrew Reilly sold 21,852 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $35.82, for a total value of $782,738.64. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.
Shares of SPXC stock opened at $29.32 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $1.27 billion, a PE ratio of 16.69 and a beta of 1.46. SPX Corp has a fifty-two week low of $28.09 and a fifty-two week high of $39.28.
SPX (NYSE:SPXC) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The business had revenue of $379.20 million for the quarter, compared to analyst estimates of $354.20 million. SPX had a return on equity of 27.30% and a net margin of 7.93%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. Research analysts anticipate that SPX Corp will post 2.28 EPS for the current year.
SPX Company 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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