Insider Selling: SPX Corp (SPXC) VP Sells $488,544.00 in Stock

SPX Corp (NYSE:SPXC) VP John Webster Nurkin sold 16,800 shares of the business’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $29.08, for a total value of $488,544.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NYSE:SPXC opened at $29.75 on Friday. SPX Corp has a 1 year low of $28.21 and a 1 year high of $39.28. The company has a quick ratio of 0.91, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 16.71 and a beta of 1.48.

SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). The firm had revenue of $362.50 million during the quarter, compared to the consensus estimate of $348.90 million. SPX had a net margin of 6.79% and a return on equity of 25.23%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, equities research analysts anticipate that SPX Corp will post 2.15 earnings per share for the current year.

A number of research firms have issued reports on SPXC. Buckingham Research decreased their target price on SPX from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. ValuEngine cut SPX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research cut SPX from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.75.

Several institutional investors have recently modified their holdings of the company. Global X Management Co LLC lifted its holdings in shares of SPX by 18.9% in the second quarter. Global X Management Co LLC now owns 10,459 shares of the company’s stock valued at $367,000 after purchasing an additional 1,665 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of SPX by 2.1% in the first quarter. Legal & General Group Plc now owns 87,708 shares of the company’s stock valued at $2,832,000 after purchasing an additional 1,797 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of SPX by 14.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 15,671 shares of the company’s stock valued at $522,000 after purchasing an additional 2,000 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of SPX by 26.8% in the second quarter. Trexquant Investment LP now owns 9,729 shares of the company’s stock valued at $341,000 after purchasing an additional 2,054 shares in the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in shares of SPX by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 69,989 shares of the company’s stock valued at $2,331,000 after purchasing an additional 2,644 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

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SPX Company Profile

SPX Corporation supplies infrastructure equipment serving the heating and ventilation (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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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