IndexIQ Advisors LLC lessened its stake in SPX Corp (NYSE:SPXC) by 7.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,707 shares of the company’s stock after selling 5,282 shares during the period. IndexIQ Advisors LLC owned 0.15% of SPX worth $1,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in shares of SPX by 683.8% during the 3rd quarter. Wells Fargo & Company MN now owns 519,499 shares of the company’s stock valued at $17,305,000 after purchasing an additional 453,219 shares in the last quarter. Skyline Asset Management LP acquired a new position in shares of SPX in the fourth quarter worth about $12,058,000. BlackRock Inc. boosted its holdings in shares of SPX by 5.0% in the third quarter. BlackRock Inc. now owns 6,119,749 shares of the company’s stock worth $203,849,000 after buying an additional 291,970 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of SPX in the third quarter worth about $8,028,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of SPX by 67.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 560,658 shares of the company’s stock worth $15,704,000 after buying an additional 224,856 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

NYSE SPXC opened at $30.46 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $1.32 billion, a PE ratio of 17.11 and a beta of 1.31. SPX Corp has a 52-week low of $25.22 and a 52-week high of $39.28.

Several research analysts have commented on SPXC shares. Buckingham Research decreased their target price on shares of SPX from $41.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 2nd. ValuEngine cut shares of SPX from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research cut shares of SPX from a “hold” rating to a “strong sell” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. SPX presently has an average rating of “Hold” and an average target price of $35.67.

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SPX Profile

SPX Corporation supplies infrastructure equipment serving the heating and ventilation (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.

Further Reading: Return on Equity (ROE)

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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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