The stock is trading at $29.29 which is significantly higher than $25.53, the 50 day moving average and which is significantly above the 200 day moving average of $25.30. The 50 day moving average went up by +14.72% and the 200 day average went up by +15.75%. Trading was heavy with 214K shares changing hands in the last trading session. Overall, volume was up 18.84% over the stocks normal daily volume.
Traders are feeling more bullish on SPX Corporation if you look at the motion in short interest. The stock saw a fall in short interest of -27.78% as of October 13, 2017 from the last reporting period. Short shares fell 158,152 over that timeframe. With short interest at 411,054 and short average daily volume at 206,243, the short-interest ratio is 2.0 and the short interest percentage is 0.01% as of October 13.
These firms have modified their investment in SPXC. As of quarter end Nationwide Fund Advisors had acquired a total of 5,175 shares growing its position 7.3%. The value of the investment in SPXC went from $1,786,000 to $2,234,000 increasing 25.1% quarter to quarter. As of the end of the quarter First Trust Advisors Lp had sold 35,504 shares trimming its holdings by 17.8%. The value of the investment in (SPXC) decreased from $5,020,000 to $4,812,000 a change of $208,000 since the last quarter.
As of the end of the quarter Peregrine Capital Management LLC had acquired a total of 175,601 shares growing its stake by 26.2%. The value of the company’s investment in SPX Corporation increased from $16,859,000 to $24,812,000 a change of 47.2% quarter over quarter. Aperio Group, LLC added to its ownership by buying 1,018 shares an increase of 4.3%. Aperio Group, LLC now holds 24,718 shares with a value of $725,000. The total value of its holdings increased 21.6%.
As of the last earnings report the EPS was $-1.81 and is expected to be $1.75 for the current year with 42,522,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.65 with next year’s EPS anticipated to be $2.10.
SPX Corporation, launched on February 9, 1968, 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. Its detection and measurement product lines encompass underground pipe and cable locators, and inspection equipment. Within its power platform, it is a manufacturer of medium and large power transformers, as well as equipment for various types of power plant, including cooling equipment, heat exchangers and pollution control systems. As of December 31, 2016, the Company had operations in approximately 15 countries..Advertisement