Credit Suisse AG Purchases 17,342 Shares of SPX Corp (NYSE:SPXC)

Credit Suisse AG lifted its position in shares of SPX Corp (NYSE:SPXC) by 55.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,406 shares of the company’s stock after purchasing an additional 17,342 shares during the period. Credit Suisse AG’s holdings in SPX were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund increased its stake in shares of SPX by 0.8% in the 4th quarter. Texas Permanent School Fund now owns 30,196 shares of the company’s stock valued at $1,536,000 after purchasing an additional 225 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of SPX by 2.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 13,480 shares of the company’s stock valued at $686,000 after purchasing an additional 270 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of SPX by 8.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,120 shares of the company’s stock valued at $261,000 after purchasing an additional 405 shares during the last quarter. US Bancorp DE increased its stake in shares of SPX by 8.3% in the 4th quarter. US Bancorp DE now owns 8,714 shares of the company’s stock valued at $443,000 after purchasing an additional 667 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of SPX by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 68,084 shares of the company’s stock valued at $2,724,000 after purchasing an additional 814 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

NYSE SPXC opened at $27.62 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. SPX Corp has a twelve month low of $25.50 and a twelve month high of $53.76. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 0.89 and a beta of 1.50. The business’s fifty day moving average is $43.43 and its 200 day moving average is $45.48.

SPX (NYSE:SPXC) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.02. SPX had a return on equity of 27.32% and a net margin of 4.65%. The company had revenue of $444.60 million for the quarter, compared to the consensus estimate of $438.75 million. On average, research analysts anticipate that SPX Corp will post 2.98 earnings per share for the current fiscal year.

SPXC has been the topic of several recent analyst reports. ValuEngine upgraded SPX from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Buckingham Research lifted their price target on SPX from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. UBS Group lowered SPX from a “buy” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $56.00 in a research note on Tuesday, January 7th. Vertical Research lowered SPX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Citigroup initiated coverage on SPX in a research note on Tuesday, March 10th. They issued an “outperform” rating and a $52.00 price target on the stock. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $53.43.

SPX Company Profile

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.

Featured Story: What is intrinsic value?

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.