State of Alaska Department of Revenue Acquires 1,746 Shares of SPX Co. (NYSE:SPXC)

State of Alaska Department of Revenue increased its holdings in SPX Co. (NYSE:SPXC) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,057 shares of the company’s stock after acquiring an additional 1,746 shares during the period. State of Alaska Department of Revenue owned about 0.07% of SPX worth $1,766,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of SPX in the second quarter valued at approximately $29,000. Bessemer Group Inc. bought a new position in shares of SPX in the second quarter valued at approximately $122,000. Captrust Financial Advisors grew its holdings in shares of SPX by 20.7% in the first quarter. Captrust Financial Advisors now owns 2,440 shares of the company’s stock valued at $142,000 after acquiring an additional 419 shares in the last quarter. Man Group plc purchased a new position in SPX in the first quarter valued at approximately $220,000. Finally, Verition Fund Management LLC purchased a new position in SPX in the first quarter valued at approximately $221,000. 91.35% of the stock is owned by institutional investors.

Several equities analysts recently commented on the company. Zacks Investment Research downgraded SPX from a “hold” rating to a “sell” rating in a research note on Wednesday, October 13th. Oppenheimer upped their price objective on SPX from $72.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. William Blair downgraded SPX from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 4th. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of SPX in a research note on Thursday, November 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.50.

NYSE:SPXC opened at $63.94 on Thursday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 6.71, a P/E/G ratio of 1.64 and a beta of 1.40. The stock’s fifty day moving average is $59.73. SPX Co. has a 1 year low of $51.00 and a 1 year high of $68.24. The company has a current ratio of 2.19, a quick ratio of 1.83 and a debt-to-equity ratio of 0.22.

SPX (NYSE:SPXC) last posted its earnings results on Wednesday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). SPX had a return on equity of 14.92% and a net margin of 30.88%. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts forecast that SPX Co. will post 2.22 earnings per share for the current year.

In related news, VP Natausha Heleena White sold 9,750 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $66.66, for a total value of $649,935.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian G. Mason sold 10,000 shares of the stock in a transaction on Thursday, September 30th. The stock was sold at an average price of $54.19, for a total value of $541,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,842 shares of company stock worth $1,752,871. Company insiders own 3.92% of the company’s stock.

SPX Profile

SPX Corp. is the supplier of infrastructure equipment and products. It operates through the following segments: HVAC, Detection and Measurement, and Engineered Solutions. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.

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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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