Cubist Systematic Strategies LLC lessened its position in shares of SPX Co. (NYSE:SPXC) by 46.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,360 shares of the company’s stock after selling 7,354 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in SPX were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in SPXC. Segall Bryant & Hamill LLC grew its holdings in shares of SPX by 60.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,130,614 shares of the company’s stock worth $52,437,000 after purchasing an additional 427,778 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in SPX in the third quarter valued at about $9,768,000. Wedge Capital Management L L P NC increased its holdings in SPX by 23.2% in the third quarter. Wedge Capital Management L L P NC now owns 647,662 shares of the company’s stock valued at $30,039,000 after purchasing an additional 121,839 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in SPX in the second quarter valued at about $3,457,000. Finally, Marshall Wace LLP bought a new stake in SPX in the second quarter valued at about $3,231,000. 89.47% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on SPXC shares. Zacks Investment Research upgraded SPX from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, December 22nd. Oppenheimer increased their target price on SPX from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, December 21st. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of SPX in a research note on Friday, October 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. SPX has a consensus rating of “Buy” and an average target price of $55.60.
Shares of SPXC stock opened at $54.54 on Friday. The company’s fifty day simple moving average is $52.48 and its 200-day simple moving average is $45.58. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.44 billion, a PE ratio of 24.24, a P/E/G ratio of 1.47 and a beta of 1.29. SPX Co. has a 12 month low of $25.50 and a 12 month high of $56.90.
SPX (NYSE:SPXC) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.14. SPX had a net margin of 6.59% and a return on equity of 25.25%. The firm had revenue of $363.40 million for the quarter, compared to analyst estimates of $357.83 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that SPX Co. will post 2.8 earnings per share for the current fiscal year.
In other SPX news, VP Scott William Sproule sold 167,043 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $43.33, for a total value of $7,237,973.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.39% of the stock is owned by insiders.
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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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