Bessemer Group Inc. Sells 93 Shares of Spire Inc. (NYSE:SR)
Bessemer Group Inc. reduced its stake in Spire Inc. (NYSE:SR) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 38,891 shares of the utilities provider’s stock after selling 93 shares during the period. Bessemer Group Inc.’s holdings in Spire were worth $2,713,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its position in Spire by 11,569.5% in the first quarter. BlackRock Inc. now owns 5,712,688 shares of the utilities provider’s stock worth $385,606,000 after buying an additional 5,663,734 shares during the last quarter. Denver Investment Advisors LLC purchased a new position in Spire during the first quarter worth about $17,993,000. Vanguard Group Inc. boosted its position in Spire by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,219,000 shares of the utilities provider’s stock worth $284,783,000 after buying an additional 216,388 shares during the last quarter. Renaissance Technologies LLC boosted its position in Spire by 30.8% in the first quarter. Renaissance Technologies LLC now owns 399,700 shares of the utilities provider’s stock worth $26,980,000 after buying an additional 94,100 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Spire during the first quarter worth about $5,987,000. 74.68% of the stock is owned by institutional investors and hedge funds.
Spire Inc. (NYSE SR) opened at 75.80 on Wednesday. The stock has a market cap of $3.65 billion, a PE ratio of 21.90 and a beta of 0.33. The firm has a 50 day moving average of $71.07 and a 200-day moving average of $68.32. Spire Inc. has a 52-week low of $59.54 and a 52-week high of $75.93.
Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The company had revenue of $323.50 million during the quarter, compared to analyst estimates of $293.99 million. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts anticipate that Spire Inc. will post $3.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a yield of 2.77%. Spire’s payout ratio is 60.17%.
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A number of equities analysts have issued reports on SR shares. Stifel Nicolaus restated a “hold” rating and issued a $71.00 price objective on shares of Spire in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Wednesday, July 12th. Morgan Stanley boosted their price objective on shares of Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price objective on shares of Spire in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.14.
Spire Company Profile
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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