First Allied Advisory Services Inc. Sells 15,593 Shares of SPX Corp (NYSE:SPXC)

First Allied Advisory Services Inc. lessened its stake in shares of SPX Corp (NYSE:SPXC) by 47.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,561 shares of the company’s stock after selling 15,593 shares during the period. First Allied Advisory Services Inc.’s holdings in SPX were worth $699,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atria Investments LLC acquired a new position in SPX during the second quarter worth approximately $5,243,000. Wells Fargo & Company MN increased its position in SPX by 81.4% during the second quarter. Wells Fargo & Company MN now owns 1,101,092 shares of the company’s stock worth $36,359,000 after buying an additional 493,932 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in SPX during the second quarter worth approximately $13,402,000. Eagle Asset Management Inc. increased its position in SPX by 590.8% during the third quarter. Eagle Asset Management Inc. now owns 375,195 shares of the company’s stock worth $15,011,000 after buying an additional 320,883 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management increased its position in SPX by 23,528.4% during the second quarter. Mesirow Financial Investment Management Equity Management now owns 207,930 shares of the company’s stock worth $6,866,000 after buying an additional 207,050 shares during the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.

A number of equities analysts have weighed in on SPXC shares. Seaport Global Securities started coverage on SPX in a research report on Tuesday, October 22nd. They set a “buy” rating and a $50.00 price target on the stock. Buckingham Research boosted their price target on SPX from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Sidoti started coverage on SPX in a research report on Friday, October 18th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Zacks Investment Research raised SPX from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. SPX presently has an average rating of “Buy” and an average target price of $50.50.

SPX stock opened at $47.38 on Tuesday. SPX Corp has a 12 month low of $25.22 and a 12 month high of $48.37. The stock’s 50 day moving average is $42.55 and its 200-day moving average is $36.77. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 21.54 and a beta of 1.42.

SPX (NYSE:SPXC) last posted its earnings results on Wednesday, October 30th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. SPX had a return on equity of 27.82% and a net margin of 5.18%. The company had revenue of $364.80 million for the quarter, compared to the consensus estimate of $353.48 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that SPX Corp will post 2.71 earnings per share for the current fiscal year.

About SPX

SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (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 in 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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