Principal Financial Group Inc. Has $8.36 Million Position in SPX Corp (SPXC)
Principal Financial Group Inc. increased its stake in shares of SPX Corp (NASDAQ:SPXC) by 3.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 332,191 shares of the company’s stock after acquiring an additional 11,248 shares during the period. Principal Financial Group Inc. owned about 0.78% of SPX Corp worth $8,358,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in SPX Corp by 54,864.3% during the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock worth $133,635,000 after acquiring an additional 5,500,697 shares in the last quarter. Vanguard Group Inc. raised its holdings in SPX Corp by 12.8% during the first quarter. Vanguard Group Inc. now owns 3,775,677 shares of the company’s stock worth $91,561,000 after acquiring an additional 427,148 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in SPX Corp during the first quarter worth about $25,177,000. State Street Corp raised its holdings in SPX Corp by 6.0% during the first quarter. State Street Corp now owns 1,019,770 shares of the company’s stock worth $24,727,000 after acquiring an additional 57,579 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in SPX Corp by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 929,879 shares of the company’s stock worth $22,549,000 after acquiring an additional 67,503 shares in the last quarter.
SPXC has been the topic of several analyst reports. Zacks Investment Research upgraded SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, August 8th. BidaskClub upgraded SPX Corp from a “hold” rating to a “buy” rating in a report on Wednesday, September 20th.
Shares of SPX Corp (NASDAQ SPXC) opened at 29.17 on Thursday. SPX Corp has a 12-month low of $15.49 and a 12-month high of $29.46. The company’s market cap is $1.24 billion. The company’s 50-day moving average price is $25.74 and its 200 day moving average price is $25.30.
SPX Corp (NASDAQ:SPXC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $354.84 million. During the same quarter last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts predict that SPX Corp will post $1.75 earnings per share for the current year.
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.
Receive News & Stock Ratings for SPX Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Corp and related stocks with our FREE daily email newsletter.