Jennison Associates LLC raised its holdings in SPX Corp (NYSE:SPXC) by 37.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,221 shares of the company’s stock after buying an additional 6,880 shares during the quarter. Jennison Associates LLC’s holdings in SPX were worth $877,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Arizona State Retirement System increased its holdings in SPX by 0.4% in the 1st quarter. Arizona State Retirement System now owns 67,102 shares of the company’s stock valued at $2,334,000 after buying an additional 279 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in SPX by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,806 shares of the company’s stock valued at $585,000 after buying an additional 304 shares during the period. PNC Financial Services Group Inc. increased its holdings in SPX by 9.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the company’s stock valued at $127,000 after buying an additional 373 shares during the period. Piedmont Investment Advisors Inc. increased its holdings in SPX by 4.1% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 10,319 shares of the company’s stock valued at $289,000 after buying an additional 407 shares during the period. Finally, Mason Street Advisors LLC increased its holdings in SPX by 3.7% in the 1st quarter. Mason Street Advisors LLC now owns 13,970 shares of the company’s stock valued at $486,000 after buying an additional 495 shares during the period. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of SPX from a “strong sell” rating to a “hold” rating in a report on Thursday, February 21st.
SPXC opened at $31.59 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.12. SPX Corp has a twelve month low of $25.22 and a twelve month high of $39.28. The stock has a market capitalization of $1.39 billion, a PE ratio of 14.36 and a beta of 1.46.
SPX (NYSE:SPXC) last posted its earnings results on Thursday, May 2nd. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. SPX had a net margin of 4.44% and a return on equity of 26.49%. The business had revenue of $351.50 million for the quarter, compared to analyst estimates of $344.50 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that SPX Corp will post 2.6 earnings per share for the current year.
In other news, CAO Michael Andrew Reilly sold 45,899 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $32.71, for a total value of $1,501,356.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.21% of the stock is currently owned by corporate insiders.
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.
Read More: Short Selling Stocks, A Beginner’s Guide
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).
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.