TIAA CREF Investment Management LLC Has $7.16 Million Stake in SPX Corp (NASDAQ:SPXC)
TIAA CREF Investment Management LLC lowered its stake in SPX Corp (NASDAQ:SPXC) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295,278 shares of the company’s stock after selling 18,456 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.70% of SPX Corp worth $7,160,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. ACR Alpine Capital Research LLC increased its stake in SPX Corp by 1.3% in the first quarter. ACR Alpine Capital Research LLC now owns 2,657,668 shares of the company’s stock valued at $64,448,000 after buying an additional 33,981 shares in the last quarter. State Street Corp increased its stake in shares of SPX Corp by 1.9% in the fourth quarter. State Street Corp now owns 962,191 shares of the company’s stock worth $22,821,000 after buying an additional 17,927 shares during the period. Prudential Financial Inc. increased its stake in shares of SPX Corp by 28.8% in the first quarter. Prudential Financial Inc. now owns 620,701 shares of the company’s stock worth $15,052,000 after buying an additional 138,770 shares during the period. Bank of New York Mellon Corp increased its stake in shares of SPX Corp by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 540,544 shares of the company’s stock worth $13,108,000 after buying an additional 20,377 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of SPX Corp by 4.5% in the first quarter. Principal Financial Group Inc. now owns 320,943 shares of the company’s stock worth $7,783,000 after buying an additional 13,761 shares during the period.
SPX Corp (NASDAQ SPXC) traded down 2.57% during midday trading on Monday, reaching $26.18. The company’s stock had a trading volume of 575,496 shares. The firm has a 50 day moving average price of $26.35 and a 200 day moving average price of $25.25. The firm’s market cap is $1.11 billion. SPX Corp has a one year low of $14.43 and a one year high of $29.25.
SPX Corp (NASDAQ:SPXC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $349.70 million during the quarter, compared to analysts’ expectations of $354.84 million. SPX Corp had a net margin of 3.02% and a return on equity of 20.52%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Equities research analysts forecast that SPX Corp will post $1.73 EPS for the current fiscal year.
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Separately, Zacks Investment Research upgraded SPX Corp from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, April 13th.
About SPX Corp
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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