Russell Investments Group Ltd. Sells 37,480 Shares of Spire Inc. (NYSE:SR)

Russell Investments Group Ltd. reduced its holdings in shares of Spire Inc. (NYSE:SR) by 24.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,967 shares of the utilities provider’s stock after selling 37,480 shares during the period. Russell Investments Group Ltd.’s holdings in Spire were worth $7,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SR. Parkside Financial Bank & Trust bought a new position in Spire during the third quarter valued at approximately $29,000. Moors & Cabot Inc. bought a new position in Spire during the third quarter valued at approximately $41,000. Asset Management One Co. Ltd. bought a new position in Spire during the third quarter valued at approximately $56,000. William Blair Investment Management LLC bought a new position in Spire during the second quarter valued at approximately $74,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Spire during the second quarter valued at approximately $153,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

NYSE:SR opened at $66.73 on Friday. The stock has a market cap of $3.45 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 3.12 and a beta of 0.33. The firm’s fifty day simple moving average is $63.49 and its 200 day simple moving average is $66.32. Spire Inc. has a twelve month low of $59.29 and a twelve month high of $77.95. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

Spire (NYSE:SR) last released its quarterly earnings results on Monday, November 22nd. The utilities provider reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.37. The business had revenue of $290.20 million for the quarter, compared to analysts’ expectations of $254.89 million. Spire had a net margin of 11.98% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.37) earnings per share. On average, analysts expect that Spire Inc. will post 3.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 4th. Shareholders of record on Friday, December 10th were given a dividend of $0.685 per share. The ex-dividend date of this dividend was Thursday, December 9th. This represents a $2.74 annualized dividend and a yield of 4.11%. This is a positive change from Spire’s previous quarterly dividend of $0.65. Spire’s dividend payout ratio (DPR) is currently 55.13%.

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Spire from $78.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, November 22nd. Mizuho cut shares of Spire from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a report on Wednesday, January 5th. Bank of America cut shares of Spire from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $63.00 to $58.00 in a report on Tuesday, November 23rd. Morgan Stanley raised their target price on shares of Spire from $61.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, January 6th. Finally, JPMorgan Chase & Co. cut shares of Spire from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $70.00 in a report on Tuesday, November 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.33.

Spire Company Profile

Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the following business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.

See Also: Market Capitalization and Individual Investors

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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