Dimensional Fund Advisors LP boosted its stake in shares of SPX Corp (NASDAQ:SPXC) by 7.8% during the first quarter, Holdings Channel reports. The firm owned 929,879 shares of the company’s stock after buying an additional 67,503 shares during the period. Dimensional Fund Advisors LP’s holdings in SPX Corp were worth $22,549,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in SPX Corp by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the company’s stock valued at $113,000 after buying an additional 140 shares during the period. SG Americas Securities LLC purchased a new stake in SPX Corp during the first quarter valued at about $113,000. Quantbot Technologies LP purchased a new stake in SPX Corp during the first quarter valued at about $148,000. AXA purchased a new stake in SPX Corp during the first quarter valued at about $201,000. Finally, Mason Street Advisors LLC increased its stake in SPX Corp by 7.9% in the first quarter. Mason Street Advisors LLC now owns 9,874 shares of the company’s stock valued at $239,000 after buying an additional 721 shares during the period.
SPX Corp (SPXC) traded down 1.52% during mid-day trading on Wednesday, reaching $25.86. The company had a trading volume of 75,218 shares. The stock has a 50-day moving average of $26.58 and a 200 day moving average of $25.30. SPX Corp has a 12-month low of $15.49 and a 12-month high of $29.25. The company’s market capitalization is $1.10 billion.
SPX Corp (NASDAQ:SPXC) last released its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.09. SPX Corp had a negative return on equity of 15.86% and a negative net margin of 2.37%. The business had revenue of $349.70 million during the quarter, compared to the consensus estimate of $354.84 million. During the same period last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts expect that SPX Corp will post $1.73 EPS for the current year.
Separately, Zacks Investment Research upgraded SPX Corp from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, April 13th.
About SPX Corp
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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