Kennedy Capital Management Inc. Raises Holdings in SPX Corp (SPXC)
Kennedy Capital Management Inc. grew its holdings in shares of SPX Corp (NASDAQ:SPXC) by 221.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,382 shares of the company’s stock after purchasing an additional 134,563 shares during the quarter. Kennedy Capital Management Inc. owned about 0.46% of SPX Corp worth $4,916,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in SPX Corp during the first quarter worth about $113,000. Quantbot Technologies LP bought a new position in SPX Corp during the first quarter worth about $148,000. AXA bought a new position in SPX Corp during the first quarter worth about $201,000. State of Alaska Department of Revenue boosted its position in SPX Corp by 79.5% during the second quarter. State of Alaska Department of Revenue now owns 8,364 shares of the company’s stock worth $210,000 after purchasing an additional 3,704 shares during the period. Finally, Mason Street Advisors LLC boosted its position in SPX Corp by 7.9% during the first quarter. Mason Street Advisors LLC now owns 9,874 shares of the company’s stock worth $239,000 after purchasing an additional 721 shares during the period.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of SPX Corp from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, August 8th.
SPX Corp (SPXC) opened at 26.32 on Friday. The company’s market cap is $1.12 billion. SPX Corp has a 12 month low of $15.49 and a 12 month high of $29.25. The firm’s 50-day moving average is $25.53 and its 200-day moving average is $25.30.
SPX Corp (NASDAQ:SPXC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.09. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The firm had revenue of $349.70 million during the quarter, compared to analyst estimates of $354.84 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts anticipate that SPX Corp will post $1.75 EPS for the current fiscal year.
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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