OLD Republic International Corp Continues to Hold Position in Spire Inc. (SR)
OLD Republic International Corp continued to hold its stake in shares of Spire Inc. (NYSE:SR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,000 shares of the utilities provider’s stock at the end of the second quarter. OLD Republic International Corp’s holdings in Spire were worth $11,160,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in SR. Teachers Advisors LLC raised its stake in shares of Spire by 12.6% in the fourth quarter. Teachers Advisors LLC now owns 80,328 shares of the utilities provider’s stock worth $5,185,000 after buying an additional 9,020 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Spire by 1.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 236,198 shares of the utilities provider’s stock worth $15,944,000 after buying an additional 2,958 shares during the period. Citadel Advisors LLC raised its stake in shares of Spire by 15.4% in the first quarter. Citadel Advisors LLC now owns 17,953 shares of the utilities provider’s stock worth $1,212,000 after buying an additional 2,396 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Spire by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,070 shares of the utilities provider’s stock worth $342,000 after buying an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares during the period. Hedge funds and other institutional investors own 74.68% of the company’s stock.
Spire Inc. (SR) opened at 75.05 on Friday. Spire Inc. has a one year low of $59.54 and a one year high of $76.20. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 21.68 and a beta of 0.33. The firm has a 50 day moving average of $71.68 and a 200-day moving average of $68.70.
Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The firm had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. Equities research analysts forecast that Spire Inc. will post $3.57 EPS 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 given a dividend of $0.525 per share. 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 payout ratio is presently 60.17%.
A number of analysts recently issued reports on SR shares. Morgan Stanley raised their target price on shares of Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “hold” rating and set a $73.00 target price on shares of Spire in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Spire 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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