Arrowstreet Capital Limited Partnership Reduces Holdings in SPX Corp (SPXC)
Arrowstreet Capital Limited Partnership lessened its stake in SPX Corp (NASDAQ:SPXC) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 427,422 shares of the company’s stock after selling 52,209 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.01% of SPX Corp worth $10,754,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Macquarie Group Ltd. increased its stake in SPX Corp by 47.7% in the 2nd quarter. Macquarie Group Ltd. now owns 53,728 shares of the company’s stock valued at $1,352,000 after buying an additional 17,357 shares during the period. Flinton Capital Management LLC increased its stake in SPX Corp by 40.7% in the 2nd quarter. Flinton Capital Management LLC now owns 4,114 shares of the company’s stock valued at $103,000 after buying an additional 1,190 shares during the period. Royal Bank of Canada increased its stake in SPX Corp 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 buying an additional 549 shares during the period. Tudor Investment Corp ET AL increased its stake in SPX Corp by 29.4% in the 2nd quarter. Tudor Investment Corp ET AL now owns 39,585 shares of the company’s stock valued at $996,000 after buying an additional 8,995 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in SPX Corp in the 2nd quarter valued at approximately $233,000.
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SPX Corp (NASDAQ SPXC) traded up 0.38% on Friday, reaching $29.34. 4,149 shares of the company’s stock traded hands. SPX Corp has a 52-week low of $15.49 and a 52-week high of $30.37. The firm’s market cap is $1.25 billion. The stock’s 50 day moving average is $25.53 and its 200 day moving average is $25.30.
SPX Corp (NASDAQ:SPXC) last announced its earnings results on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. The firm had revenue of $349.70 million for the quarter, compared to the consensus estimate of $354.84 million. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. On average, equities research analysts predict that SPX Corp will post $1.75 EPS for the current fiscal year.
Several research firms have weighed in on SPXC. BidaskClub upgraded shares of SPX Corp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Zacks Investment Research lowered shares of SPX Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th.
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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