KBC Group NV reduced its stake in SPX Co. (NASDAQ:SPXC) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,050 shares of the company’s stock after selling 24,891 shares during the period. KBC Group NV owned approximately 0.45% of SPX worth $4,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of SPX by 0.6% in the third quarter. BlackRock Inc. now owns 11,367 shares of the company’s stock valued at $229,000 after buying an additional 63 shares in the last quarter. Financial Architects Inc raised its stake in shares of SPX by 1.1% in the first quarter. Financial Architects Inc now owns 11,028 shares of the company’s stock valued at $267,000 after buying an additional 123 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of SPX by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the company’s stock valued at $186,000 after buying an additional 140 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of SPX by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the company’s stock valued at $113,000 after buying an additional 140 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of SPX by 1.0% in the third quarter. BlackRock Advisors LLC now owns 56,407 shares of the company’s stock valued at $1,136,000 after buying an additional 552 shares in the last quarter.

Institutional Ownership by Quarter for SPX (NASDAQ:SPXC)

Shares of SPX Co. (NASDAQ:SPXC) traded up 0.12% during mid-day trading on Friday, reaching $24.91. The company’s stock had a trading volume of 298,926 shares. The company has a 50-day moving average price of $25.64 and a 200 day moving average price of $24.76. The company’s market cap is $1.06 billion. SPX Co. has a 52-week low of $14.00 and a 52-week high of $28.93.

SPX (NASDAQ:SPXC) last announced its earnings results on Thursday, May 4th. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.11. The company had revenue of $340.60 million during the quarter, compared to analysts’ expectations of $320.94 million. During the same quarter last year, the firm posted $0.09 EPS. Equities analysts expect that SPX Co. will post $1.69 earnings per share for the current year.

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Separately, Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, May 10th.

SPX Company 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.

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