UMB Bank N A MO Reduces Stake in Spire Inc. (NYSE:SR)
UMB Bank N A MO lowered its position in Spire Inc. (NYSE:SR) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 14,014 shares of the utilities provider’s stock after selling 200 shares during the period. UMB Bank N A MO’s holdings in Spire were worth $978,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of 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 period. Denver Investment Advisors LLC acquired a new stake in shares of Spire during the first quarter worth $17,993,000. Vanguard Group Inc. boosted its stake in shares of 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 period. Sei Investments Co. boosted its stake in shares of Spire by 864.2% in the second quarter. Sei Investments Co. now owns 189,202 shares of the utilities provider’s stock worth $13,197,000 after buying an additional 169,579 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 period. 74.68% of the stock is owned by hedge funds and other institutional investors.
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 firm has a 50-day moving average of $71.68 and a 200-day moving average of $68.70. The stock has a market capitalization of $3.62 billion, a PE ratio of 21.68 and a beta of 0.33.
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, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. Spire’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities analysts expect that Spire Inc. will post $3.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be issued a dividend of $0.525 per share. The ex-dividend date is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.80%. Spire’s dividend payout ratio is currently 60.17%.
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SR has been the subject of a number of research reports. Zacks Investment Research raised shares of Spire from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Morgan Stanley upped their price target 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. Royal Bank Of Canada reaffirmed a “hold” rating and set a $73.00 price target on shares of Spire in a research report on Wednesday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $71.00 price target on shares of Spire in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $71.43.
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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