OppenheimerFunds Inc. trimmed its holdings in SPX Co. (NYSE:SPXC) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,235 shares of the company’s stock after selling 7,782 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.07% of SPX worth $980,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SPXC. Royal Bank of Canada increased its holdings in shares of SPX by 6.6% in the 2nd quarter. Royal Bank of Canada now owns 8,857 shares of the company’s stock valued at $223,000 after acquiring an additional 549 shares during the period. Nationwide Fund Advisors increased its holdings in shares of SPX by 7.3% in the 3rd quarter. Nationwide Fund Advisors now owns 76,155 shares of the company’s stock valued at $2,234,000 after acquiring an additional 5,175 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of SPX in the 3rd quarter valued at $232,000. BNP Paribas Arbitrage SA increased its stake in SPX by 35.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 23,871 shares of the company’s stock valued at $700,000 after buying an additional 6,250 shares during the period. Finally, Sei Investments Co. increased its stake in SPX by 538.5% in the 3rd quarter. Sei Investments Co. now owns 240,676 shares of the company’s stock valued at $7,062,000 after buying an additional 202,984 shares during the period. 86.73% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on SPXC shares. Zacks Investment Research cut shares of SPX from a “hold” rating to a “strong sell” rating in a research note on Friday, January 5th. UBS started coverage on shares of SPX in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $41.00 price objective on the stock. Susquehanna Bancshares set a $32.00 price objective on shares of SPX and gave the company a “hold” rating in a research note on Friday, February 16th. TheStreet raised shares of SPX from a “c” rating to a “b-” rating in a research note on Thursday, February 15th. Finally, ValuEngine raised shares of SPX from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $36.00.
SPXC traded down $0.69 during trading on Friday, hitting $31.66. The stock had a trading volume of 191,175 shares, compared to its average volume of 251,413. The stock has a market capitalization of $1,354.51, a P/E ratio of 17.79 and a beta of 1.54. SPX Co. has a twelve month low of $21.97 and a twelve month high of $33.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.06 and a current ratio of 1.37.
SPX (NYSE:SPXC) last issued its earnings results on Thursday, February 15th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $387.00 million for the quarter, compared to analysts’ expectations of $396.35 million. SPX had a return on equity of 31.70% and a net margin of 6.26%. SPX’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. sell-side analysts predict that SPX Co. will post 2.1 EPS for the current year.
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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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