Spire Inc (SR) Shares Bought by Legal & General Group Plc
Legal & General Group Plc lifted its holdings in Spire Inc (NYSE:SR) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 243,030 shares of the utilities provider’s stock after buying an additional 16,952 shares during the period. Legal & General Group Plc owned approximately 0.50% of Spire worth $18,144,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bruderman Asset Management LLC purchased a new position in shares of Spire in the 2nd quarter worth approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Spire by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after buying an additional 144 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Spire by 11.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock worth $144,000 after buying an additional 209 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Spire by 30.7% in the 2nd quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock worth $149,000 after buying an additional 504 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its stake in shares of Spire by 66.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock worth $168,000 after buying an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Spire Inc (NYSE:SR) traded down $0.35 during trading hours on Monday, hitting $80.20. 155,800 shares of the company were exchanged, compared to its average volume of 186,645. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.46. The company has a market cap of $3,871.00, a PE ratio of 22.03, a PEG ratio of 4.05 and a beta of 0.31. Spire Inc has a 52 week low of $62.33 and a 52 week high of $82.85.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The company had revenue of $258.70 million for the quarter, compared to analysts’ expectations of $271.65 million. Spire had a net margin of 9.28% and a return on equity of 8.71%. Spire’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. sell-side analysts anticipate that Spire Inc will post 3.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 11th will be issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, December 8th. This is a boost from Spire’s previous quarterly dividend of $0.53. Spire’s payout ratio is 59.66%.
SR has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $73.00 price target on shares of Spire in a report on Monday, October 16th. Stifel Nicolaus lifted their price target on shares of Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. J P Morgan Chase & Co lifted their price target on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Finally, ValuEngine cut shares of Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently 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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