SPX Corp (NASDAQ:SPXC) Stake Lessened by Private Asset Management Inc.

Private Asset Management Inc. cut its stake in shares of SPX Corp (NASDAQ:SPXC) by 97.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 277 shares of the company’s stock after selling 9,175 shares during the period. Private Asset Management Inc.’s holdings in SPX Corp were worth $277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in SPX Corp by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the company’s stock valued at $435,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System grew its holdings in SPX Corp by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 22,100 shares of the company’s stock valued at $556,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund grew its holdings in SPX Corp by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 30,951 shares of the company’s stock valued at $779,000 after buying an additional 380 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of SPX Corp by 5.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,970 shares of the company’s stock worth $251,000 after purchasing an additional 480 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of SPX Corp by 6.6% during 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 period.



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SPXC has been the topic of several research reports. Zacks Investment Research lowered SPX Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub upgraded SPX Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th.

SPX Corp (NASDAQ SPXC) traded up 0.70% during trading on Friday, reaching $30.05. The company had a trading volume of 170,888 shares. SPX Corp has a 12-month low of $15.49 and a 12-month high of $30.37. The stock’s market cap is $1.28 billion. The firm has a 50-day moving average price of $25.53 and a 200 day moving average price of $25.30.

SPX Corp (NASDAQ:SPXC) last posted its earnings results on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The business had revenue of $349.70 million for the quarter, compared to the consensus estimate of $354.84 million. During the same period last year, the company earned $0.33 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts predict that SPX Corp will post $1.75 EPS for the current fiscal year.

SPX Corp 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.

Institutional Ownership by Quarter for SPX Corp (NASDAQ:SPXC)

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