Sit Investment Associates Inc. reduced its stake in shares of Spire Inc (NYSE:SR) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,400 shares of the utilities provider’s stock after selling 4,475 shares during the period. Sit Investment Associates Inc.’s holdings in Spire were worth $1,157,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC acquired a new stake in shares of Spire in the 3rd quarter valued at $209,000. Americafirst Capital Management LLC acquired a new stake in shares of Spire in the 3rd quarter valued at $451,000. Sterling Capital Management LLC acquired a new stake in shares of Spire in the 3rd quarter valued at $1,486,000. Neuberger Berman Group LLC acquired a new stake in shares of Spire in the 3rd quarter valued at $219,000. Finally, California Public Employees Retirement System lifted its stake in shares of Spire by 14.8% in the 3rd quarter. California Public Employees Retirement System now owns 105,724 shares of the utilities provider’s stock valued at $7,892,000 after purchasing an additional 13,624 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.
Several equities research analysts recently issued reports on SR shares. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Wednesday, October 4th. Stifel Nicolaus lifted their price objective on shares of Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. Morgan Stanley lifted their price objective on shares of Spire from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Wednesday, December 13th. ValuEngine lowered shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $74.67.
Spire (NYSE:SR) last released its earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.04. The firm 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 business’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.32) EPS. equities analysts expect that Spire Inc will post 3.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th were given a dividend of $0.5625 per share. This is a positive change from Spire’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.25 dividend on an annualized basis and a yield of 3.27%. Spire’s payout ratio is currently 63.92%.
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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