BNP Paribas Arbitrage SA cut its stake in shares of SPX Co. (NASDAQ:SPXC) by 54.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,324 shares of the company’s stock after selling 7,508 shares during the period. BNP Paribas Arbitrage SA’s holdings in SPX were worth $127,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System boosted its position in SPX by 0.5% in the second quarter. Arizona State Retirement System now owns 21,600 shares of the company’s stock worth $321,000 after buying an additional 100 shares during the period. Legal & General Group Plc boosted its position in SPX by 152.8% in the second quarter. Legal & General Group Plc now owns 7,454 shares of the company’s stock worth $108,000 after buying an additional 4,505 shares during the period. Guggenheim Capital LLC boosted its position in SPX by 3.3% in the second quarter. Guggenheim Capital LLC now owns 219,253 shares of the company’s stock worth $3,256,000 after buying an additional 7,010 shares during the period. Mason Street Advisors LLC acquired a new position in SPX during the second quarter worth approximately $121,000. Finally, First Allied Advisory Services Inc. boosted its position in SPX by 16.0% in the second quarter. First Allied Advisory Services Inc. now owns 65,499 shares of the company’s stock worth $963,000 after buying an additional 9,045 shares during the period.
Shares of SPX Co. (NASDAQ:SPXC) opened at 20.39 on Thursday. The company’s market cap is $851.43 million. SPX Co. has a 52-week low of $7.62 and a 52-week high of $20.55. The firm has a 50 day moving average price of $19.75 and a 200-day moving average price of $16.92.
SPX (NASDAQ:SPXC) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The business had revenue of $412.90 million for the quarter, compared to the consensus estimate of $413.55 million. SPX’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. Equities research analysts anticipate that SPX Co. will post $1.19 earnings per share for the current year.
A number of research firms have recently commented on SPXC. Zacks Investment Research raised SPX from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Friday, August 12th. Credit Suisse Group AG raised SPX to a “buy” rating in a report on Saturday, July 9th.
In related news, insider Michael Andrew Reilly sold 2,258 shares of SPX stock in a transaction on Monday, August 29th. The stock was sold at an average price of $19.19, for a total transaction of $43,331.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SPX Corporation is a diversified, global supplier of infrastructure equipment. The Company operates through three segments: heating, ventilation and air conditioning (HVAC); Detection and Measurement, and Power. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.