Janney Montgomery Scott LLC Sells 49,188 Shares of SPX Corp (SPXC)

Janney Montgomery Scott LLC trimmed its position in SPX Corp (NYSE:SPXC) by 62.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 29,808 shares of the company’s stock after selling 49,188 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of SPX worth $993,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SPXC. Aristotle Atlantic Partners LLC acquired a new position in shares of SPX in the 2nd quarter valued at $211,000. Crossmark Global Holdings Inc. acquired a new position in shares of SPX in the 2nd quarter valued at $213,000. Amalgamated Bank acquired a new position in shares of SPX in the 2nd quarter valued at $241,000. Cubist Systematic Strategies LLC acquired a new position in shares of SPX in the 2nd quarter valued at $252,000. Finally, Verition Fund Management LLC acquired a new position in shares of SPX in the 2nd quarter valued at $261,000. Hedge funds and other institutional investors own 87.98% of the company’s stock.

A number of research analysts have recently weighed in on the company. ValuEngine raised SPX from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Zacks Investment Research downgraded SPX from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 8th. Finally, Buckingham Research dropped their price objective on SPX from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. SPX has a consensus rating of “Hold” and a consensus price target of $37.75.

Shares of SPX stock opened at $29.62 on Monday. The firm has a market cap of $1.29 billion, a P/E ratio of 16.64 and a beta of 1.48. SPX Corp has a 12 month low of $28.21 and a 12 month high of $39.28. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 1.18.

SPX (NYSE:SPXC) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.09). The business had revenue of $362.50 million for the quarter, compared to analyst estimates of $348.90 million. SPX had a return on equity of 25.23% and a net margin of 6.79%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. On average, analysts expect that SPX Corp will post 2.2 EPS for the current year.

In related news, VP John Webster Nurkin sold 16,800 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $29.08, for a total transaction of $488,544.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

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SPX Profile

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.

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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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