SPX Corp (SPXC) Stake Increased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan grew its holdings in SPX Corp (NYSE:SPXC) by 59.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,910 shares of the company’s stock after buying an additional 5,940 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in SPX were worth $467,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Northern Trust Corp increased its position in shares of SPX by 4.6% during the second quarter. Northern Trust Corp now owns 553,246 shares of the company’s stock worth $13,919,000 after purchasing an additional 24,280 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of SPX by 7.3% during the second quarter. Great West Life Assurance Co. Can now owns 61,277 shares of the company’s stock worth $1,541,000 after purchasing an additional 4,150 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of SPX by 221.3% during the second quarter. Kennedy Capital Management Inc. now owns 195,382 shares of the company’s stock worth $4,916,000 after purchasing an additional 134,563 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of SPX by 26.2% during the third quarter. Peregrine Capital Management LLC now owns 845,671 shares of the company’s stock worth $24,812,000 after purchasing an additional 175,601 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of SPX by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 436,612 shares of the company’s stock worth $10,986,000 after purchasing an additional 17,598 shares in the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.

In other SPX news, CAO Michael Andrew Reilly sold 3,833 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.59, for a total transaction of $117,251.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, August 8th. UBS boosted their price objective on SPX from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BidaskClub raised SPX from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th. ValuEngine lowered SPX from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, TheStreet raised SPX from a “d+” rating to a “c” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. SPX presently has an average rating of “Buy” and a consensus target price of $37.00.

SPX Corp (SPXC) traded down $0.39 during midday trading on Wednesday, reaching $30.98. The company’s stock had a trading volume of 139,800 shares, compared to its average volume of 269,357. The firm has a market capitalization of $1,336.65, a price-to-earnings ratio of 16.77 and a beta of 1.72. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.15 and a quick ratio of 0.81. SPX Corp has a one year low of $21.97 and a one year high of $32.71.

SPX (NYSE:SPXC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.08. The company had revenue of $348.50 million for the quarter, compared to analyst estimates of $343.12 million. SPX had a positive return on equity of 37.49% and a negative net margin of 3.86%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. equities research analysts predict that SPX Corp will post 1.8 earnings per share for the current fiscal year.

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SPX Company Profile

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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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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