Garrison Financial Corp Sells 55 Shares of Spire Inc. (NYSE:SR)
Garrison Financial Corp cut its stake in shares of Spire Inc. (NYSE:SR) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,782 shares of the utilities provider’s stock after selling 55 shares during the period. Garrison Financial Corp’s holdings in Spire were worth $403,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised 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 valued at $385,606,000 after buying an additional 5,663,734 shares during the last quarter. Denver Investment Advisors LLC acquired a new position in Spire during the first quarter valued at approximately $17,993,000. Vanguard Group Inc. raised 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 valued at $284,783,000 after buying an additional 216,388 shares during the last quarter. Sei Investments Co. raised its position in Spire by 864.2% in the second quarter. Sei Investments Co. now owns 189,202 shares of the utilities provider’s stock valued at $13,197,000 after buying an additional 169,579 shares during the last quarter. Finally, Renaissance Technologies LLC raised 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 valued at $26,980,000 after buying an additional 94,100 shares during the last quarter. 74.68% of the stock is owned by institutional investors and hedge funds.
Spire Inc. (NYSE SR) opened at 75.05 on Friday. Spire Inc. has a 52 week low of $59.54 and a 52 week high of $76.20. The stock has a market cap of $3.62 billion, a P/E ratio of 21.68 and a beta of 0.33. The company has a 50-day moving average of $71.68 and a 200-day moving average of $68.70.
Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The firm had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. Spire’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. On average, analysts predict that Spire Inc. will post $3.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s dividend payout ratio is presently 60.17%.
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SR has been the subject of several recent research reports. Zacks Investment Research raised shares of Spire from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Morgan Stanley raised their price objective on shares of Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $73.00 price objective on shares of Spire in a research note on Wednesday. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price objective on shares of Spire in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $71.43.
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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