ACR Alpine Capital Research LLC lessened its holdings in shares of SPX Co. (NYSE:SPXC) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,526,533 shares of the company’s stock after selling 16,727 shares during the quarter. SPX makes up 4.5% of ACR Alpine Capital Research LLC’s portfolio, making the stock its 11th biggest position. ACR Alpine Capital Research LLC owned 5.88% of SPX worth $82,062,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Quantitative Systematic Strategies LLC bought a new position in SPX in the first quarter worth $214,000. Swiss National Bank raised its holdings in SPX by 3.1% in the first quarter. Swiss National Bank now owns 74,118 shares of the company’s stock worth $2,407,000 after purchasing an additional 2,200 shares in the last quarter. Rhumbline Advisers raised its holdings in SPX by 2.8% in the first quarter. Rhumbline Advisers now owns 99,428 shares of the company’s stock worth $3,229,000 after purchasing an additional 2,750 shares in the last quarter. Global X Management Co. LLC raised its holdings in SPX by 181.3% in the first quarter. Global X Management Co. LLC now owns 8,794 shares of the company’s stock worth $286,000 after purchasing an additional 5,668 shares in the last quarter. Finally, Elkfork Partners LLC bought a new position in SPX in the fourth quarter worth $159,000. Institutional investors own 86.47% of the company’s stock.

SPX opened at $34.08 on Friday, according to MarketBeat. SPX Co. has a 12 month low of $33.67 and a 12 month high of $33.83. The firm has a market capitalization of $1.44 billion, a PE ratio of 19.15 and a beta of 1.56. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.14 and a current ratio of 1.40.

SPX (NYSE:SPXC) last released its earnings results on Thursday, May 3rd. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. SPX had a return on equity of 29.40% and a net margin of 5.87%. The firm had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $332.60 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. equities analysts anticipate that SPX Co. will post 2.18 earnings per share for the current year.

A number of research firms have issued reports on SPXC. Zacks Investment Research cut SPX from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. ValuEngine raised SPX from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. UBS began coverage on SPX in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $41.00 target price on the stock. Susquehanna Bancshares set a $32.00 target price on SPX and gave the stock a “hold” rating in a research note on Friday, February 16th. Finally, TheStreet raised SPX from a “c” rating to a “b-” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. SPX presently has a consensus rating of “Buy” and a consensus target price of $36.33.

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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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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