Today, SPX Co. (SPXC) Stake Decreased by Advisors Asset Management Inc.

Today, SPX Co. (SPXC) Stake Decreased by Advisors Asset Management Inc.
Advisors Asset Management Inc. cut its stake in SPX Co. (NASDAQ:SPXC) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 37,694 shares of the company’s stock after selling 786 shares during the period. Advisors Asset Management Inc. owned 0.09% of SPX worth $759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SPXC. Peregrine Capital Management LLC purchased a new stake in SPX during the third quarter worth approximately $12,225,000. Schwab Charles Investment Management Inc. boosted its stake in SPX by 212.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 522,559 shares of the company’s stock worth $7,761,000 after buying an additional 355,208 shares during the period. AQR Capital Management LLC boosted its stake in SPX by 14.5% in the second quarter. AQR Capital Management LLC now owns 1,884,278 shares of the company’s stock worth $27,982,000 after buying an additional 238,858 shares during the period. Brant Point Investment Management LLC boosted its stake in SPX by 369.1% in the second quarter. Brant Point Investment Management LLC now owns 234,559 shares of the company’s stock worth $3,483,000 after buying an additional 184,559 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in SPX during the second quarter worth approximately $1,626,000.

SPX Co. (NASDAQ:SPXC) traded down 1.18% during mid-day trading on Friday, reaching $25.20. The company had a trading volume of 252,613 shares. The stock’s 50-day moving average price is $20.53 and its 200 day moving average price is $17.94. SPX Co. has a 52 week low of $7.62 and a 52 week high of $25.95. The firm’s market capitalization is $1.06 billion.

SPX (NASDAQ:SPXC) last announced its earnings results on Thursday, November 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.09. The business earned $359.80 million during the quarter, compared to analyst estimates of $382.10 million. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.58) earnings per share. On average, equities research analysts predict that SPX Co. will post $1.12 EPS for the current year.

A number of analysts recently commented on the company. TheStreet upgraded SPX from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research cut SPX from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 9th.

In other SPX news, insider Michael Andrew Reilly sold 2,258 shares of the 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

About SPX

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.

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