ClariVest Asset Management LLC lessened its position in Spire Inc (NYSE:SR) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,342 shares of the utilities provider’s stock after selling 1,500 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.22% of Spire worth $7,616,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Spire by 3.3% in the 4th quarter. BlackRock Inc. now owns 6,273,333 shares of the utilities provider’s stock valued at $471,441,000 after buying an additional 200,037 shares during the period. American Century Companies Inc. increased its holdings in Spire by 0.8% during the 1st quarter. American Century Companies Inc. now owns 3,285,714 shares of the utilities provider’s stock worth $237,557,000 after purchasing an additional 25,755 shares during the period. Wells Fargo & Company MN increased its holdings in Spire by 2.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,125,561 shares of the utilities provider’s stock worth $81,379,000 after purchasing an additional 29,412 shares during the period. Macquarie Group Ltd. increased its holdings in Spire by 9.5% during the 4th quarter. Macquarie Group Ltd. now owns 728,873 shares of the utilities provider’s stock worth $56,894,000 after purchasing an additional 63,030 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Spire by 64.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 718,674 shares of the utilities provider’s stock worth $54,051,000 after purchasing an additional 282,725 shares during the period. Hedge funds and other institutional investors own 82.90% of the company’s stock.
SR has been the topic of several recent research reports. Credit Suisse Group downgraded Spire from an “outperform” rating to a “neutral” rating in a report on Thursday, May 3rd. Gabelli restated a “buy” rating on shares of Spire in a report on Monday, April 16th. Hilliard Lyons upgraded Spire to a “buy” rating in a report on Friday, February 2nd. ValuEngine upgraded Spire from a “hold” rating to a “buy” rating in a report on Saturday, April 7th. Finally, Zacks Investment Research downgraded Spire from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Spire presently has a consensus rating of “Hold” and an average target price of $72.29.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.35. Spire had a return on equity of 9.99% and a net margin of 11.37%. The business had revenue of $813.40 million for the quarter, compared to the consensus estimate of $685.12 million. During the same quarter in the prior year, the business posted $2.38 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. research analysts expect that Spire Inc will post 3.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Monday, June 11th will be issued a $0.5625 dividend. The ex-dividend date is Friday, June 8th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.24%. Spire’s payout ratio is currently 63.20%.
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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