ClariVest Asset Management LLC Has $5.21 Million Stake in Spire Inc. (SR)
ClariVest Asset Management LLC boosted its stake in Spire Inc. (NYSE:SR) by 27.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,626 shares of the utilities provider’s stock after buying an additional 16,300 shares during the period. ClariVest Asset Management LLC’s holdings in Spire were worth $5,205,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Spire by 11,569.5% in the first quarter. BlackRock Inc. now owns 5,712,688 shares of the utilities provider’s stock valued at $385,606,000 after buying an additional 5,663,734 shares during the period. Denver Investment Advisors LLC purchased a new stake in Spire during the first quarter valued at about $17,993,000. Vanguard Group Inc. raised its stake in Spire by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,219,000 shares of the utilities provider’s stock valued at $284,783,000 after buying an additional 216,388 shares during the period. Sei Investments Co. raised its stake in Spire by 864.2% in the second quarter. Sei Investments Co. now owns 189,202 shares of the utilities provider’s stock valued at $13,197,000 after buying an additional 169,579 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Spire by 30.8% in the first quarter. Renaissance Technologies LLC now owns 399,700 shares of the utilities provider’s stock valued at $26,980,000 after buying an additional 94,100 shares during the period. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
Spire Inc. (NYSE SR) opened at 75.80 on Tuesday. The firm has a market capitalization of $3.66 billion, a P/E ratio of 21.90 and a beta of 0.33. The firm has a 50 day moving average of $71.82 and a 200 day moving average of $68.83. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $76.20.
Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The business had revenue of $323.50 million for the quarter, compared to analysts’ expectations of $293.99 million. During the same period in the previous year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, analysts forecast that Spire Inc. will post $3.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s dividend payout ratio is currently 60.17%.
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Several research firms have commented on SR. Zacks Investment Research upgraded shares of Spire from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Morgan Stanley upped their price objective on shares of Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $71.00 price objective on shares of Spire in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $73.00 price objective on shares of Spire in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $71.43.
Spire Company Profile
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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