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.
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.