Millennium Management LLC purchased a new position in shares of SPX Co. (NYSE:SPXC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 261,111 shares of the company’s stock, valued at approximately $8,196,000. Millennium Management LLC owned about 0.61% of SPX as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of SPXC. Amundi Pioneer Asset Management Inc. acquired a new position in shares of SPX during the fourth quarter worth approximately $17,643,000. Overbrook Management Corp acquired a new position in shares of SPX during the fourth quarter worth approximately $6,213,000. Assenagon Asset Management S.A. acquired a new position in shares of SPX in the fourth quarter valued at $4,713,000. Thrivent Financial For Lutherans raised its stake in shares of SPX by 32.7% in the fourth quarter. Thrivent Financial For Lutherans now owns 396,760 shares of the company’s stock valued at $12,454,000 after purchasing an additional 97,658 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of SPX by 83.4% in the fourth quarter. Deutsche Bank AG now owns 176,697 shares of the company’s stock valued at $5,543,000 after purchasing an additional 80,370 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.
A number of brokerages recently commented on SPXC. Zacks Investment Research upgraded SPX from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. TheStreet upgraded SPX from a “c” rating to a “b-” rating in a research note on Thursday, February 15th. Susquehanna Bancshares set a $32.00 target price on SPX and gave the company a “hold” rating in a research note on Friday, February 16th. UBS began coverage on SPX in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $41.00 target price for the company. Finally, ValuEngine upgraded SPX from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $36.00.
SPX (NYSE:SPXC) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). SPX had a net margin of 6.26% and a return on equity of 31.70%. The company had revenue of $387.00 million during the quarter, compared to the consensus estimate of $396.35 million. During the same quarter last year, the company earned $0.69 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. equities analysts anticipate that SPX Co. will post 2.1 EPS for the current year.
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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