Piermont Capital Management Inc. Has $3.80 Million Stake in Spire Inc. (SR)
Piermont Capital Management Inc. decreased its holdings in Spire Inc. (NYSE:SR) by 18.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,535 shares of the utilities provider’s stock after selling 12,750 shares during the quarter. Spire accounts for approximately 1.1% of Piermont Capital Management Inc.’s holdings, making the stock its 2nd largest position. Piermont Capital Management Inc. owned approximately 0.11% of Spire worth $3,804,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew 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 purchasing an additional 2,958 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Spire by 87.8% in the second quarter. State of Alaska Department of Revenue now owns 9,522 shares of the utilities provider’s stock worth $664,000 after purchasing an additional 4,452 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Spire by 12.2% in the second quarter. Legal & General Group Plc now owns 226,078 shares of the utilities provider’s stock worth $15,767,000 after purchasing an additional 24,657 shares in the last quarter. Citadel Advisors LLC grew 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 purchasing an additional 2,396 shares in the last quarter. Finally, Vanguard Group Inc. grew 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 purchasing an additional 216,388 shares in the last quarter. 79.06% of the stock is owned by institutional investors.
Spire Inc. (SR) traded down 0.74% on Friday, hitting $74.10. The stock had a trading volume of 111,778 shares. The firm’s 50-day moving average price is $76.02 and its 200-day moving average price is $71.00. Spire Inc. has a 1-year low of $59.54 and a 1-year high of $78.00. The firm has a market cap of $3.58 billion, a P/E ratio of 21.41 and a beta of 0.33.
Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The firm had revenue of $323.50 million during the quarter, compared to the consensus estimate of $293.99 million. During the same quarter in the previous year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts predict that Spire Inc. will post $3.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be given a $0.525 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.10 annualized dividend and a yield of 2.83%. Spire’s payout ratio is 60.17%.
Several research firms have recently issued reports on SR. Royal Bank Of Canada reissued a “hold” rating and issued a $73.00 price target on shares of Spire in a research note on Wednesday, August 9th. Morgan Stanley increased their price target on Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Zacks Investment Research cut Spire from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price target on shares of Spire in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $72.17.
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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