Relational Investors Sell Some Shares of SPX Corporation (SPW)

Ralph V. Whitworth‘s Relational Investors has reported the sale of around 371,200 shares of SPX Corporation (NYSE:SPW). According to the filing, Relational disposed of the securities in five transactions, the average price amounting to $102.77 per share. Following the sale, Ralph Whitworth’s fund still owns a significant position in the company, which contains over 6.66 million shares.

Ralph Whitworth

Earlier in January, Relational disclosed ownership of 15.51% of SPX Corporation’s stock and reported about signing an agreement with the company, under the terms of which the fund appointed a director to the company’s board. It is also important to mention, that in the latest round of 13F filings, Whitworth’s fund held SPX Corporation among its largest holdings, owning 7.04 million shares, with a reported value of $700.77 million.

SPX Corporation (NYSE:SPW) is one of the companies on Fortune 500. It is engaged in the flow technology and energy infrastructure businesses, having over 14,000 employees and operations in around 35 countries. At the beginning of March, SPX completed the sale of Thermal Product Solutions business to Resilience Capital Partners, the value of the deal amounting to some $43 million, the company said in a statement.

For the last year,  SPX Corporation (NYSE:SPW) posted an annual 2.4% decline in revenues to $4.72 billion. The company also turned to a net income of $4.33 per diluted share, from a loss of $3.59 million posted in 2012. Moreover, the net income reported for 2013 bet the analyst estimate consensus of around $3.98.

For the current year, the company expects an increase in revenue of up to 6%.  SPX Corporation (NYSE:SPW)’s outlook for EPS from continuing operations is between $5.00 and $5.50 per share, said Chris Kearney, Chairman, President and Chief Executive Officer of SPX in a press release.

Aside from Relational, some other funds from our database reported holding  SPX Corporation (NYSE:SPW) in their equity portfolios at the end of last year. Ken Griffin‘s Citadel Investment Group reported a $44.34 million stake, which amasses around 445,200 shares, down by 12% over the quarter. On the other hand, Cliff Asness‘ Aqr Capital Management has picked up his position and disclosed owning roughly 299,000 shares, worth $29.78 million.

Industrial Goods is the sector that amasses the largest part of Relational Investors’ $5.5 billion equity portfolio. The largest position is represented by Hewlett-Packard Company (NYSE:HPQ), which contains over 15% of the portfolio and has a value of $834,83 million. Right after  SPX Corporation (NYSE:SPW), which is the second most valuable stake, comes Mondelez International Inc (NASDAQ:MDLZ), in which the fund disclosed a $579.40 million position, amassing 10.4% of the equity portfolio. 

Disclosure: none

Recommended Reading:

Hal Mintz, Sabby Management Report 7.43% Stake in Oxygen Biotherapeutics, Inc. (OXBT)

Cove Street Capital Ups Stake in Signature Group Holdings, Inc (SGGH)

RA Capital Discloses New Passive Stake in Repros Therapeutics Inc (RPRX)

 

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!