Great West Life Assurance Co. Can Decreases Position in Spire Inc (SR)
Great West Life Assurance Co. Can reduced its stake in Spire Inc (NYSE:SR) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,915 shares of the utilities provider’s stock after selling 3,242 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Spire worth $4,959,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SR. Bruderman Asset Management LLC purchased a new stake in Spire in the second quarter worth about $124,000. LS Investment Advisors LLC grew its holdings 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 purchasing an additional 206 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Spire by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 144 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Spire by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 209 shares during the period. Finally, Advisor Group Inc. grew its holdings in Spire by 30.7% in the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 504 shares during the period. 80.14% of the stock is owned by institutional investors.
Spire Inc (NYSE:SR) traded down $0.45 during trading hours on Friday, hitting $80.20. 155,867 shares of the stock were exchanged, compared to its average volume of 158,311. Spire Inc has a 1 year low of $62.33 and a 1 year high of $82.85. The company has a current ratio of 0.66, a quick ratio of 0.46 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3,870.00, a PE ratio of 22.13, a price-to-earnings-growth ratio of 4.06 and a beta of 0.31.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.04. Spire had a net margin of 9.28% and a return on equity of 8.71%. The firm had revenue of $258.70 million for the quarter, compared to analysts’ expectations of $271.65 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. sell-side analysts forecast that Spire Inc will post 3.72 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 11th will be issued a dividend of $0.5625 per share. This is a boost from Spire’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.81%. Spire’s dividend payout ratio is presently 59.66%.
A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Stifel Nicolaus upped their price objective on shares of Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price target on shares of Spire in a report on Monday, October 16th. J P Morgan Chase & Co increased their price target on shares of Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Spire has a consensus rating of “Hold” and a consensus target price of $75.00.
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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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