Leeward Investments LLC MA raised its holdings in Spire Inc. (NYSE:SR – Free Report) by 19.4% in the 1st quarter, HoldingsChannel reports. The firm owned 141,025 shares of the utilities provider’s stock after purchasing an additional 22,923 shares during the quarter. Leeward Investments LLC MA’s holdings in Spire were worth $12,768,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SR. Community Bank N.A. bought a new stake in shares of Spire during the third quarter worth $25,000. Sound Income Strategies LLC bought a new position in shares of Spire in the fourth quarter valued at about $25,000. Optima Capital LLC bought a new position in shares of Spire in the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new position in Spire during the 4th quarter worth about $25,000. Finally, MV Capital Management Inc. acquired a new position in Spire during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 87.36% of the company’s stock.
Spire Price Performance
Spire stock opened at $78.55 on Wednesday. The business’s 50-day simple moving average is $85.24 and its 200 day simple moving average is $86.46. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.69. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.70 and a beta of 0.52. Spire Inc. has a 12-month low of $71.24 and a 12-month high of $95.31.
Spire Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, June 11th. Spire’s payout ratio is 58.00%.
Analysts Set New Price Targets
Several research firms have weighed in on SR. Wells Fargo & Company began coverage on shares of Spire in a research report on Monday, May 11th. They issued an “overweight” rating and a $96.00 price objective for the company. UBS Group reduced their target price on shares of Spire from $106.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wolfe Research initiated coverage on shares of Spire in a research note on Tuesday, May 26th. They set a “peer perform” rating on the stock. Wall Street Zen lowered shares of Spire from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Spire in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.22.
Check Out Our Latest Stock Analysis on Spire
Insider Buying and Selling
In related news, SVP Ryan L. Hyman sold 3,822 shares of the 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 transaction, the senior vice president directly owned 14,295 shares in the company, valued at $1,150,890.45. This represents a 21.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul D. Koonce acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price 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 of the company’s stock, valued at $627,680. This trade represents a 6.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 3,000 shares of company stock valued at $251,100. 2.26% of the stock is currently owned by insiders.
About Spire
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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