SPX Corp (NYSE:SPXC) Short Interest Update

SPX Corp (NYSE:SPXC) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 557,900 shares, a decline of 6.8% from the May 30th total of 598,600 shares. Based on an average trading volume of 215,800 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.3% of the company’s stock are sold short.

Separately, Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st.

In related news, CAO Michael Andrew Reilly sold 45,899 shares of SPX stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $32.71, for a total value of $1,501,356.29. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.21% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in SPX by 0.9% during the fourth quarter. BlackRock Inc. now owns 6,177,732 shares of the company’s stock worth $173,038,000 after purchasing an additional 57,983 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of SPX by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,101,174 shares of the company’s stock worth $30,843,000 after acquiring an additional 80,267 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of SPX by 8.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 929,557 shares of the company’s stock worth $32,339,000 after acquiring an additional 75,513 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of SPX by 14.6% during the fourth quarter. Bank of New York Mellon Corp now owns 565,568 shares of the company’s stock worth $15,842,000 after acquiring an additional 72,157 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of SPX by 0.8% during the fourth quarter. Northern Trust Corp now owns 543,218 shares of the company’s stock worth $15,215,000 after acquiring an additional 4,086 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.

Shares of NYSE:SPXC traded up $0.76 during midday trading on Friday, reaching $34.02. The company had a trading volume of 168,587 shares, compared to its average volume of 158,381. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.12. The company’s 50 day moving average is $31.90. The firm has a market capitalization of $1.49 billion, a PE ratio of 14.79 and a beta of 1.47. SPX has a 1-year low of $25.22 and a 1-year high of $39.28.

SPX (NYSE:SPXC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. SPX had a return on equity of 26.49% and a net margin of 4.44%. The business had revenue of $351.50 million during the quarter, compared to analysts’ expectations of $344.50 million. During the same quarter last year, the company posted $0.44 earnings per share. SPX’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts expect that SPX will post 2.6 earnings per share for the current 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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