SeaBridge Investment Advisors LLC Has $5.21 Million Holdings in SPX Corp (SPXC)

SeaBridge Investment Advisors LLC reduced its position in shares of SPX Corp (NYSE:SPXC) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,322 shares of the company’s stock after selling 10,169 shares during the period. SPX accounts for about 1.3% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 23rd largest position. SeaBridge Investment Advisors LLC owned about 0.36% of SPX worth $5,207,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Peregrine Capital Management LLC boosted its position in shares of SPX by 2.7% in the third quarter. Peregrine Capital Management LLC now owns 858,732 shares of the company’s stock worth $28,604,000 after acquiring an additional 22,684 shares during the last quarter. Selz Capital LLC boosted its position in shares of SPX by 12.1% in the third quarter. Selz Capital LLC now owns 1,058,500 shares of the company’s stock worth $35,259,000 after acquiring an additional 113,845 shares during the last quarter. Northern Trust Corp boosted its position in shares of SPX by 1.5% in the second quarter. Northern Trust Corp now owns 532,931 shares of the company’s stock worth $18,679,000 after acquiring an additional 8,107 shares during the last quarter. Global X Management Co LLC boosted its position in shares of SPX by 18.9% in the second quarter. Global X Management Co LLC now owns 10,459 shares of the company’s stock worth $367,000 after acquiring an additional 1,665 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of SPX in the second quarter worth approximately $261,000. 86.79% of the stock is currently owned by institutional investors.

In related news, insider Michael Andrew Reilly sold 21,852 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $35.82, for a total value of $782,738.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

NYSE SPXC traded up $0.10 during mid-day trading on Friday, hitting $30.30. The company’s stock had a trading volume of 9,296 shares, compared to its average volume of 216,792. SPX Corp has a 52-week low of $28.09 and a 52-week high of $39.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 1.14. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.08 and a beta of 1.46.

SPX (NYSE:SPXC) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. SPX had a net margin of 7.93% and a return on equity of 27.30%. The firm had revenue of $379.20 million for the quarter, compared to analyst estimates of $354.20 million. During the same quarter last year, the firm posted $0.44 earnings per share. SPX’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that SPX Corp will post 2.28 EPS for the current fiscal year.

Several equities research analysts recently issued reports on SPXC shares. Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, July 10th. Buckingham Research started coverage on shares of SPX in a research report on Tuesday, September 18th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, ValuEngine cut shares of SPX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.75.

SPX Company 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.

See Also: What are retained earnings?

Want to see what other hedge funds are holding SPXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPX Corp (NYSE:SPXC).

Institutional Ownership by Quarter for SPX (NYSE:SPXC)

Receive News & Ratings for SPX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply