Kestrel Investment Management Corp Lowers stake in SPX Corporation (SPXC)

SPX Corporation (SPXC) : Kestrel Investment Management Corp reduced its stake in SPX Corporation by 10.95% during the most recent quarter end. The investment management company now holds a total of 468,325 shares of SPX Corporation which is valued at $8,556,298 after selling 57,600 shares in SPX Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.SPX Corporation makes up approximately 3.28% of Kestrel Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in SPXC in the latest quarter, The investment management firm added 34,868 additional shares and now holds a total of 51,645 shares of SPX Corporation which is valued at $943,554. Nine Chapters Capital Management sold out all of its stake in SPXC during the most recent quarter. The investment firm sold 275,800 shares of SPXC which is valued $4,975,432. Strs Ohio added SPXC to its portfolio by purchasing 48,600 company shares during the most recent quarter which is valued at $747,954.

On the company’s financial health, SPX Corporation reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.19. The company had revenue of $412.90 million for the quarter, compared to analysts expectations of $413.54 million. The company’s revenue was down -10.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.96 EPS.

SPX Corporation is a supplier of engineered solutions. The Company’s products include processing systems and components for the food and beverage industry pumps valves and filtration equipment used in oil and gas processing power transformers used by utility companies and cooling systems for power generation plants and heating ventilation and air conditioning (HVAC) applications. The Company has operations in over 20 countries. It is a supplier of medium power transformers for the United States power transmission and distribution market. Its medium power transformers range from a base rating of 10 mega volt ampere (MVA) to over 100 MVA. The Company provides thermal heat transfer products for power generation plants. Its power generation offerings include cooling systems scale stationary and rotating heat exchangers and pollution control systems.

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