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New York State Common Retirement Fund Buys 109,976 Shares of SPX Co. (NYSE:SPXC)

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New York State Common Retirement Fund increased its stake in shares of SPX Co. (NYSE:SPXC) by 49.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 332,195 shares of the company’s stock after acquiring an additional 109,976 shares during the period. New York State Common Retirement Fund’s holdings in SPX were worth $17,756,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in SPXC. Victory Capital Management Inc. raised its stake in SPX by 5.4% in the second quarter. Victory Capital Management Inc. now owns 10,975 shares of the company’s stock valued at $670,000 after buying an additional 559 shares during the period. Russell Investments Group Ltd. raised its stake in SPX by 16.4% in the second quarter. Russell Investments Group Ltd. now owns 107,378 shares of the company’s stock valued at $6,557,000 after buying an additional 15,141 shares during the period. Envestnet Asset Management Inc. raised its stake in SPX by 1.8% in the second quarter. Envestnet Asset Management Inc. now owns 22,191 shares of the company’s stock valued at $1,355,000 after buying an additional 390 shares during the period. Teacher Retirement System of Texas raised its stake in SPX by 17.6% in the second quarter. Teacher Retirement System of Texas now owns 5,863 shares of the company’s stock valued at $358,000 after buying an additional 877 shares during the period. Finally, US Bancorp DE raised its stake in SPX by 4.5% in the second quarter. US Bancorp DE now owns 8,485 shares of the company’s stock valued at $518,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Several analysts have issued reports on SPXC shares. William Blair lowered SPX from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 4th. Seaport Res Ptn reiterated a “buy” rating on shares of SPX in a research note on Thursday, November 4th. Finally, Zacks Investment Research lowered SPX from a “hold” rating to a “sell” rating in a research note on Wednesday, October 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.50.

In related news, insider John William Swann III sold 7,263 shares of the stock in a transaction that occurred on Monday, November 29th. The stock was sold at an average price of $60.72, for a total transaction of $441,009.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Natausha Heleena White sold 9,750 shares of the stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $66.66, for a total value of $649,935.00. The disclosure for this sale can be found here. Insiders have sold 17,105 shares of company stock worth $1,097,081 in the last three months. 3.92% of the stock is currently owned by company insiders.

Shares of NYSE SPXC opened at $59.23 on Friday. The firm has a market cap of $2.69 billion, a P/E ratio of 6.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.35. 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 Co. has a 1-year low of $51.63 and a 1-year high of $68.24. The business’s 50 day moving average is $61.10 and its 200-day moving average is $60.88.

SPX (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). The company had revenue of $285.80 million for the quarter, compared to analyst estimates of $297.85 million. SPX had a return on equity of 14.92% and a net margin of 30.88%. During the same period in the prior year, the company earned $0.64 EPS. Analysts forecast that SPX Co. will post 2.22 EPS for the current year.

About SPX

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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