Great West Life Assurance Co. Can Acquires 5,618 Shares of Spire Inc. (NYSE:SR)
Great West Life Assurance Co. Can raised its position in Spire Inc. (NYSE:SR) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,157 shares of the utilities provider’s stock after buying an additional 5,618 shares during the period. Great West Life Assurance Co. Can’s holdings in Spire were worth $4,812,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Spire by 13.0% in the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock worth $125,000 after buying an additional 206 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock worth $223,000 after buying an additional 255 shares during the period. Everence Capital Management Inc. purchased a new stake in Spire during the first quarter worth about $242,000. Finally, Creative Planning boosted its stake in Spire by 6.1% in the second quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock worth $267,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 78.59% of the company’s stock.
Shares of Spire Inc. (SR) opened at 75.80 on Tuesday. Spire Inc. has a 1-year low of $59.54 and a 1-year high of $76.20. The company has a 50 day moving average of $71.82 and a 200 day moving average of $68.83. The company has a market cap of $3.66 billion, a PE ratio of 21.90 and a beta of 0.33.
Spire (NYSE:SR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $323.50 million during the quarter, compared to the consensus estimate of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. Spire’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities analysts expect that Spire Inc. will post $3.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, September 8th. Spire’s payout ratio is 60.17%.
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SR has been the subject of a number of recent analyst reports. 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 target 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 restated a “hold” rating and set a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. One research 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 currently has a consensus rating of “Hold” and an average target price of $71.43.
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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