Segall Bryant & Hamill LLC Reduces Position in SPX Corp (SPXC)

Segall Bryant & Hamill LLC lessened its position in shares of SPX Corp (NYSE:SPXC) by 12.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 952,085 shares of the company’s stock after selling 139,971 shares during the quarter. Segall Bryant & Hamill LLC owned about 2.22% of SPX worth $30,924,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SPXC. Amundi Pioneer Asset Management Inc. acquired a new stake in SPX during the 4th quarter worth approximately $17,643,000. Millennium Management LLC acquired a new stake in SPX during the 4th quarter worth approximately $8,196,000. Overbrook Management Corp acquired a new stake in SPX during the 4th quarter worth approximately $6,213,000. Thrivent Financial For Lutherans lifted its position in SPX by 32.7% during the 4th quarter. Thrivent Financial For Lutherans now owns 396,760 shares of the company’s stock worth $12,454,000 after acquiring an additional 97,658 shares during the period. Finally, Interval Partners LP lifted its position in SPX by 142.2% during the 1st quarter. Interval Partners LP now owns 159,899 shares of the company’s stock worth $5,194,000 after acquiring an additional 93,887 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.

Shares of SPXC traded up $0.22 during mid-day trading on Thursday, hitting $37.78. The company’s stock had a trading volume of 600 shares, compared to its average volume of 242,171. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.40 and a quick ratio of 1.14. The stock has a market capitalization of $1.61 billion, a P/E ratio of 21.10 and a beta of 1.57. SPX Corp has a 1-year low of $23.41 and a 1-year high of $37.94.

SPX (NYSE:SPXC) last posted its quarterly earnings results on Thursday, May 3rd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $332.60 million. SPX had a return on equity of 29.40% and a net margin of 5.87%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. research analysts anticipate that SPX Corp will post 2.25 EPS for the current year.

A number of analysts have weighed in on SPXC shares. Zacks Investment Research cut SPX from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. TheStreet raised SPX from a “c” rating to a “b-” rating in a research report on Thursday, February 15th. Susquehanna Bancshares set a $32.00 price objective on SPX and gave the stock a “hold” rating in a research report on Friday, February 16th. Finally, ValuEngine raised SPX from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. SPX presently has an average rating of “Buy” and an average price target of $36.33.

About SPX

SPX Corporation supplies infrastructure equipment serving the heating and ventilation (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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.

Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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