According to Zacks, “SPX Corporation is a provider of technical products and systems, industrial products and services, service solutions and vehicle components. These products are primarily sold to customers throughout North America and Europe. As a global multi-industry company, SPX is focused on profitably growing businesses that have scale and growth potential. These businesses are grouped into four different segments: Technical Products and Systems, Industrial Products and Services, Flow Technology and Service Solutions. “
Separately, Credit Suisse Group AG raised shares of SPX to a buy rating in a research note on Saturday, July 9th.
SPX (NASDAQ:SPXC) opened at 19.79 on Wednesday. The firm’s market cap is $826.37 million. SPX has a one year low of $7.62 and a one year high of $20.55. The company has a 50 day moving average of $19.80 and a 200-day moving average of $16.98.
SPX (NASDAQ:SPXC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The firm had revenue of $412.90 million for the quarter, compared to analyst estimates of $413.55 million. During the same period in the prior year, the business earned $0.96 earnings per share. SPX’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts predict that SPX will post $1.19 earnings per share for the current year.
In other SPX news, insider Michael Andrew Reilly sold 2,258 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $19.19, for a total transaction of $43,331.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in SPX by 152.8% in the second quarter. Legal & General Group Plc now owns 7,454 shares of the company’s stock valued at $108,000 after buying an additional 4,505 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in SPX during the second quarter valued at about $121,000. Nisa Investment Advisors LLC boosted its stake in SPX by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,500 shares of the company’s stock valued at $171,000 after buying an additional 1,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in SPX during the second quarter valued at about $225,000. Finally, KCG Holdings Inc. purchased a new stake in SPX during the second quarter valued at about $237,000.
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.
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