Millennium Management LLC reduced its position in shares of SPX Corp (NYSE:SPXC) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,816 shares of the company’s stock after selling 36,218 shares during the period. Millennium Management LLC’s holdings in SPX were worth $4,000,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of SPX by 0.9% during the 4th quarter. BlackRock Inc. now owns 6,177,732 shares of the company’s stock worth $173,038,000 after purchasing an additional 57,983 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of SPX by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,687,700 shares of the company’s stock worth $156,148,000 after purchasing an additional 75,127 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of SPX by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 4,687,700 shares of the company’s stock worth $156,148,000 after purchasing an additional 75,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SPX by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,101,174 shares of the company’s stock worth $30,843,000 after purchasing an additional 80,267 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of SPX by 21.7% during the 3rd quarter. FMR LLC now owns 952,329 shares of the company’s stock worth $31,722,000 after purchasing an additional 169,619 shares during the last quarter. 87.49% of the stock is currently owned by institutional investors.
In related news, insider John William Swann III sold 10,435 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $36.89, for a total value of $384,947.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.21% of the stock is currently owned by company insiders.
SPX (NYSE:SPXC) last released its earnings results on Thursday, February 14th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.09. SPX had a net margin of 5.28% and a return on equity of 27.04%. The business had revenue of $428.70 million for the quarter, compared to analysts’ expectations of $404.05 million. During the same period last year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that SPX Corp will post 2.59 EPS for the current year.
SPXC has been the topic of several analyst reports. Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, March 6th. ValuEngine cut shares of SPX from a “hold” rating to a “sell” rating in a research report on Saturday, January 5th. Finally, Buckingham Research decreased their target price on shares of SPX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, January 2nd.
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SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (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 in three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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