Renaissance Technologies LLC Cuts Stake in SPX Co. (NASDAQ:SPXC)

Renaissance Technologies LLC lowered its position in SPX Co. (NASDAQ:SPXC) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 654,100 shares of the company’s stock after selling 28,700 shares during the period. Renaissance Technologies LLC owned 1.55% of SPX worth $15,862,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Citadel Advisors LLC boosted its stake in shares of SPX by 104.0% in the first quarter. Citadel Advisors LLC now owns 51,503 shares of the company’s stock worth $1,249,000 after buying an additional 26,251 shares during the last quarter. UBS Group AG boosted its stake in shares of SPX by 40.4% in the first quarter. UBS Group AG now owns 87,047 shares of the company’s stock worth $2,111,000 after buying an additional 25,035 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SPX by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 929,879 shares of the company’s stock worth $22,549,000 after buying an additional 67,503 shares during the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of SPX during the first quarter worth $1,157,000. Finally, Kennedy Capital Management Inc. raised its position in SPX by 10.6% in the first quarter. Kennedy Capital Management Inc. now owns 60,819 shares of the company’s stock worth $1,475,000 after buying an additional 5,845 shares in the last quarter.

SPX Co. (NASDAQ SPXC) opened at 26.73 on Wednesday. The firm’s market cap is $1.13 billion. The company has a 50-day moving average of $25.46 and a 200-day moving average of $24.78. SPX Co. has a 1-year low of $14.37 and a 1-year high of $28.93.

SPX (NASDAQ:SPXC) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.11. The business had revenue of $340.60 million during the quarter, compared to the consensus estimate of $320.94 million. SPX had a net margin of 3.02% and a return on equity of 20.52%. During the same period in the previous year, the firm posted $0.09 earnings per share. Analysts predict that SPX Co. will post $1.69 earnings per share for the current year.

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Separately, Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, April 13th.

About SPX

SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.

Institutional Ownership by Quarter for SPX (NASDAQ:SPXC)

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