241,001 Shares in SPX Corp (SPXC) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in SPX Corp (NYSE:SPXC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 241,001 shares of the company’s stock, valued at approximately $8,028,000. Assenagon Asset Management S.A. owned 0.56% of SPX at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in SPX by 8.8% during the 2nd quarter. BlackRock Inc. now owns 5,827,779 shares of the company’s stock valued at $204,264,000 after acquiring an additional 470,558 shares during the last quarter. FMR LLC boosted its stake in SPX by 135.3% during the 2nd quarter. FMR LLC now owns 782,710 shares of the company’s stock valued at $27,434,000 after acquiring an additional 450,039 shares during the last quarter. Federated Investors Inc. PA boosted its stake in SPX by 74.7% during the 2nd quarter. Federated Investors Inc. PA now owns 576,658 shares of the company’s stock valued at $20,211,000 after acquiring an additional 246,580 shares during the last quarter. Millennium Management LLC boosted its stake in SPX by 240.6% during the 2nd quarter. Millennium Management LLC now owns 303,423 shares of the company’s stock valued at $10,635,000 after acquiring an additional 214,332 shares during the last quarter. Finally, Selz Capital LLC boosted its stake in SPX by 12.1% during the 3rd quarter. Selz Capital LLC now owns 1,058,500 shares of the company’s stock valued at $35,259,000 after acquiring an additional 113,845 shares during the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

NYSE SPXC opened at $29.32 on Thursday. SPX Corp has a 12 month low of $28.09 and a 12 month high of $39.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 1.14. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 16.47 and a beta of 1.46.



SPX (NYSE:SPXC) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. SPX had a net margin of 7.93% and a return on equity of 27.30%. The firm had revenue of $379.20 million for the quarter, compared to the consensus estimate of $354.20 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that SPX Corp will post 2.28 EPS for the current fiscal year.

In other news, insider Michael Andrew Reilly sold 21,852 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $35.82, for a total value of $782,738.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

SPXC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of SPX from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, July 10th. ValuEngine downgraded shares of SPX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Buckingham Research initiated coverage on shares of SPX in a research note on Tuesday, September 18th. They set a “buy” rating and a $41.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.75.

SPX Company 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.

Further Reading: Discount Rate

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Institutional Ownership by Quarter for SPX (NYSE:SPXC)

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