Sterling Capital Management LLC acquired a new stake in shares of Spire Inc (NYSE:SR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,907 shares of the utilities provider’s stock, valued at approximately $1,486,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new position in shares of Spire during the second quarter valued at approximately $124,000. Archford Capital Strategies LLC grew its position in Spire by 66.5% during the second quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock valued at $168,000 after buying an additional 722 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Spire by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after buying an additional 144 shares during the period. Public Employees Retirement System of Ohio grew its position in Spire by 11.2% during the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after buying an additional 209 shares during the period. Finally, Advisor Group Inc. grew its position in Spire by 30.7% during the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after buying an additional 504 shares during the period. 79.84% of the stock is owned by hedge funds and other institutional investors.

SR has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Wednesday, October 4th. Morgan Stanley boosted their target price on shares of Spire from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Stifel Nicolaus boosted their target price on shares of Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. J P Morgan Chase & Co boosted their target price on shares of Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. Finally, ValuEngine lowered shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $75.33.

Shares of Spire Inc (SR) opened at $76.55 on Tuesday. 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 cap of $3,721.13, a P/E ratio of 21.17, a P/E/G ratio of 4.14 and a beta of 0.31. Spire Inc has a 12-month low of $62.33 and a 12-month high of $82.85.

Spire (NYSE:SR) last announced its earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.04. The company had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. Spire had a net margin of 9.28% and a return on equity of 8.71%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) earnings per share. equities analysts predict that Spire Inc will post 3.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th will be given a $0.5625 dividend. This is a positive change from Spire’s previous quarterly dividend of $0.53. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, December 8th. Spire’s dividend payout ratio is presently 63.92%.

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About Spire

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.

Institutional Ownership by Quarter for Spire (NYSE:SR)

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