Zacks Investment Research lowered shares of SPX Corp (NASDAQ:SPXC) from a buy rating to a hold rating in a report issued on Wednesday.

According to Zacks, “SPX Corporation is a global supplier of infrastructure equipment. The company, SPX 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. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products. Its detection and measurement product lines encompass underground pipe and cable locators, and inspection equipment. Within its power platform, it is a manufacturer of medium and large power transformers, as well as equipment for various types of power plant, including cooling equipment, heat exchangers and pollution control systems. SPX Corporation is headquartered in Charlotte, North Carolina. “

Other equities analysts have also issued reports about the company. UBS AG upped their target price on SPX Corp from $36.00 to $39.00 and gave the company a buy rating in a research report on Friday, November 3rd. BidaskClub raised SPX Corp from a hold rating to a buy rating in a research report on Wednesday, September 20th. Finally, TheStreet raised SPX Corp from a d+ rating to a c rating in a research report on Monday, November 6th.

SPX Corp (NASDAQ:SPXC) traded down $0.09 during trading on Wednesday, reaching $30.58. The company had a trading volume of 136,483 shares, compared to its average volume of 212,484. SPX Corp has a 12-month low of $19.50 and a 12-month high of $32.71.

SPX Corp (NASDAQ:SPXC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. The firm had revenue of $348.50 million for the quarter, compared to analyst estimates of $343.12 million. SPX Corp had a negative return on equity of 15.86% and a negative net margin of 2.37%. SPX Corp’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS.

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Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of SPX Corp by 54,864.3% in the 1st quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock valued at $133,635,000 after purchasing an additional 5,500,697 shares in the last quarter. Vanguard Group Inc. raised its position in shares of SPX Corp by 12.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock valued at $106,465,000 after purchasing an additional 455,828 shares in the last quarter. Rothschild Asset Management Inc. raised its position in shares of SPX Corp by 506.5% in the 3rd quarter. Rothschild Asset Management Inc. now owns 1,168,111 shares of the company’s stock valued at $34,272,000 after purchasing an additional 975,500 shares in the last quarter. State Street Corp raised its position in shares of SPX Corp by 6.0% in the 1st quarter. State Street Corp now owns 1,019,770 shares of the company’s stock valued at $24,727,000 after purchasing an additional 57,579 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SPX Corp by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 967,014 shares of the company’s stock valued at $24,330,000 after purchasing an additional 37,135 shares in the last quarter.

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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