Simplicity Wealth LLC purchased a new position in shares of Spire Inc. (NYSE:SR – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 26,635 shares of the utilities provider’s stock, valued at approximately $2,080,000.
Several other institutional investors have also modified their holdings of the business. Los Angeles Capital Management LLC acquired a new stake in Spire during the 4th quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in shares of Spire during the fourth quarter worth $33,000. SHP Wealth Management acquired a new stake in shares of Spire during the fourth quarter worth $35,000. Headlands Technologies LLC bought a new stake in Spire in the 2nd quarter valued at $38,000. Finally, International Assets Investment Management LLC acquired a new position in Spire in the 4th quarter worth $43,000. Institutional investors own 87.36% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on SR. Mizuho assumed coverage on Spire in a report on Tuesday, July 7th. They issued an “outperform” rating and a $88.00 price target on the stock. Wall Street Zen upgraded Spire from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Wells Fargo & Company initiated coverage on Spire in a research report on Monday, May 11th. They set an “overweight” rating and a $96.00 price target for the company. Weiss Ratings upgraded shares of Spire from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $85.00 target price (up from $84.00) on shares of Spire in a research report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.50.
Insider Buying and Selling
In related news, Director Paul D. Koonce acquired 500 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $78.46 per share, for a total transaction of $39,230.00. Following the completion of the acquisition, the director directly owned 8,000 shares in the company, valued at approximately $627,680. This trade represents a 6.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ryan L. Hyman sold 3,822 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total transaction of $307,709.22. Following the sale, the senior vice president owned 14,295 shares of the company’s stock, valued at approximately $1,150,890.45. This represents a 21.10% decrease in their position. The SEC filing for this sale provides additional information. 2.26% of the stock is currently owned by insiders.
Spire Price Performance
NYSE:SR opened at $82.86 on Monday. Spire Inc. has a 1-year low of $73.91 and a 1-year high of $95.31. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $80.29 and a 200 day simple moving average of $85.90. The stock has a market capitalization of $4.90 billion, a PE ratio of 9.24, a P/E/G ratio of 1.85 and a beta of 0.52.
Spire (NYSE:SR – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.06. The firm had revenue of $420.20 million for the quarter, compared to analyst estimates of $394.62 million. Spire had a net margin of 21.48% and a return on equity of 8.65%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. Spire has set its FY 2026 guidance at 3.900-4.100 EPS. On average, research analysts expect that Spire Inc. will post 4.01 EPS for the current fiscal year.
Spire Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $0.825 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.30 annualized dividend and a yield of 4.0%. Spire’s dividend payout ratio is currently 36.79%.
Spire Profile
Spire Inc (NYSE: SR), formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire’s service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.
Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.
Featured Stories
- Five stocks we like better than Spire
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding SR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spire Inc. (NYSE:SR – Free Report).
Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.
