State of Alaska Department of Revenue boosted its holdings in shares of SPX Corp (NYSE:SPXC) by 126.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,828 shares of the company’s stock after buying an additional 18,896 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.08% of SPX worth $1,353,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in SPX during the second quarter worth about $29,000. Public Employees Retirement System of Ohio bought a new stake in SPX in the 2nd quarter valued at $36,000. NumerixS Investment Technologies Inc bought a new stake in SPX in the 1st quarter valued at $90,000. Squar Milner Financial Services LLC boosted its stake in SPX by 13.2% in the 2nd quarter. Squar Milner Financial Services LLC now owns 5,086 shares of the company’s stock valued at $168,000 after purchasing an additional 595 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in SPX by 7.1% in the 2nd quarter. Raymond James Trust N.A. now owns 6,709 shares of the company’s stock valued at $222,000 after purchasing an additional 442 shares during the period. 87.25% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on SPXC shares. Zacks Investment Research downgraded SPX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Buckingham Research upped their target price on SPX from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, September 20th.
Shares of SPXC stock opened at $38.68 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 17.58 and a beta of 1.39. The stock has a 50-day moving average of $39.09 and a 200-day moving average of $35.30. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.75. SPX Corp has a 1-year low of $25.22 and a 1-year high of $41.78.
SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.15. The company had revenue of $372.40 million during the quarter, compared to analysts’ expectations of $354.65 million. SPX had a return on equity of 26.81% and a net margin of 4.21%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Sell-side analysts forecast that SPX Corp will post 2.7 earnings per share for the current year.
SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (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 in three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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