William Blair Investment Management LLC bought a new position in Spire Inc. (NYSE:SR – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 276,218 shares of the utilities provider’s stock, valued at approximately $21,570,000.
Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Spire during the 4th quarter worth $25,000. MV Capital Management Inc. purchased a new stake in shares of Spire in the fourth quarter valued at about $33,000. SHP Wealth Management purchased a new stake in shares of Spire in the fourth quarter valued at about $35,000. Cassaday & Co Wealth Management LLC acquired a new stake in Spire during the first quarter worth about $43,000. Finally, Smartleaf Asset Management LLC increased its position in Spire by 40.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 519 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
Insider Buying and Selling
In related news, SVP Ryan L. Hyman sold 3,822 shares of Spire stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $80.51, for a total value of $307,709.22. Following the completion of the sale, the senior vice president owned 14,295 shares in the company, valued at approximately $1,150,890.45. This trade represents a 21.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Koonce bought 500 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $78.46 per share, for a total transaction of $39,230.00. Following the transaction, the director owned 8,000 shares of the company’s stock, valued at $627,680. This trade represents a 6.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.26% of the company’s stock.
Spire Stock Down 2.8%
Spire (NYSE:SR – Get Free Report) last announced its earnings results on Wednesday, August 5th. The utilities provider reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.06. The company had revenue of $420.20 million during 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%. Spire’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. Spire has set its FY 2026 guidance at 3.900-4.100 EPS. On average, sell-side analysts forecast that Spire Inc. will post 4.01 earnings per share for the current year.
Spire Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, September 11th. Spire’s dividend payout ratio is currently 36.79%.
Analysts Set New Price Targets
Several equities analysts have weighed in on SR shares. UBS Group decreased their target price on shares of Spire from $106.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, May 8th. BTIG Research set a $101.00 price target on shares of Spire in a report on Thursday, July 23rd. Wolfe Research began coverage on shares of Spire in a research report on Tuesday, May 26th. They set a “peer perform” rating on the stock. Wells Fargo & Company assumed coverage on Spire in a report on Monday, May 11th. They issued an “overweight” rating and a $96.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on Spire from $96.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Spire currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.
Read Our Latest Report on Spire
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.
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