Dupont Capital Management Corp Reduces Position in SPX Corp (NYSE:SPXC)

Dupont Capital Management Corp lessened its holdings in shares of SPX Corp (NYSE:SPXC) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,852 shares of the company’s stock after selling 1,237 shares during the quarter. Dupont Capital Management Corp’s holdings in SPX were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of SPX by 6.5% during the 1st quarter. State Street Corp now owns 1,346,304 shares of the company’s stock worth $43,943,000 after acquiring an additional 82,210 shares during the last quarter. Channing Capital Management LLC boosted its stake in shares of SPX by 24.0% during the 1st quarter. Channing Capital Management LLC now owns 1,130,866 shares of the company’s stock worth $36,911,000 after acquiring an additional 218,911 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of SPX by 59.0% during the 1st quarter. Wells Fargo & Company MN now owns 890,533 shares of the company’s stock valued at $29,066,000 after purchasing an additional 330,329 shares during the period. Nuveen Asset Management LLC raised its position in shares of SPX by 11.5% during the 1st quarter. Nuveen Asset Management LLC now owns 742,194 shares of the company’s stock valued at $24,226,000 after purchasing an additional 76,271 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of SPX by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 610,310 shares of the company’s stock valued at $19,920,000 after purchasing an additional 41,495 shares during the period. Institutional investors and hedge funds own 87.66% of the company’s stock.

Several analysts have recently commented on SPXC shares. Oppenheimer started coverage on shares of SPX in a research report on Friday. They set a “buy” rating and a $50.00 price objective on the stock. UBS Group raised their price objective on shares of SPX from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 8th. TheStreet downgraded shares of SPX from a “b” rating to a “c+” rating in a research report on Tuesday, April 7th. ValuEngine downgraded shares of SPX from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Finally, Zacks Investment Research downgraded shares of SPX from a “hold” rating to a “sell” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.86.

SPX stock opened at $42.00 on Friday. The company’s 50-day moving average price is $40.18 and its 200-day moving average price is $40.95. SPX Corp has a twelve month low of $25.50 and a twelve month high of $53.76. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.87 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.54 and a beta of 1.51.

SPX (NYSE:SPXC) last posted its earnings results on Thursday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.18. SPX had a net margin of 6.59% and a return on equity of 26.01%. The firm had revenue of $373.20 million for the quarter, compared to the consensus estimate of $347.70 million. As a group, sell-side analysts expect that SPX Corp will post 2.68 earnings per share for the current fiscal year.

In related news, VP John Webster Nurkin sold 18,408 shares of SPX stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $42.18, for a total transaction of $776,449.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John William Swann III sold 16,225 shares of SPX stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $45.51, for a total transaction of $738,399.75. 4.39% of the stock is currently owned by insiders.

About SPX

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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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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