Sei Investments Co. Lowers Stake in Spire Inc. (SR)
Sei Investments Co. lowered its stake in shares of Spire Inc. (NYSE:SR) by 17.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 155,523 shares of the utilities provider’s stock after selling 33,679 shares during the quarter. Sei Investments Co. owned 0.32% of Spire worth $11,610,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Spire by 3.3% during the 2nd quarter. BlackRock Inc. now owns 5,901,195 shares of the utilities provider’s stock valued at $411,607,000 after purchasing an additional 188,507 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Spire by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,443,903 shares of the utilities provider’s stock valued at $309,962,000 after purchasing an additional 224,903 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Spire by 124.9% during the 2nd quarter. American Century Companies Inc. now owns 3,475,470 shares of the utilities provider’s stock valued at $242,414,000 after purchasing an additional 1,930,140 shares during the last quarter. State Street Corp grew its holdings in shares of Spire by 5.7% during the 2nd quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock valued at $86,214,000 after purchasing an additional 67,106 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Spire by 13.2% during the 2nd quarter. Northern Trust Corp now owns 1,051,175 shares of the utilities provider’s stock valued at $73,319,000 after purchasing an additional 122,444 shares during the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.
Shares of Spire Inc. (NYSE:SR) opened at $78.55 on Friday. The stock has a market cap of $3,791.37, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 3.98 and a beta of 0.30. Spire Inc. has a twelve month low of $62.33 and a twelve month high of $79.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.65.
Spire (NYSE:SR) last announced its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The business had revenue of $258.70 million for the quarter, compared to analyst estimates of $271.65 million. Spire had a net margin of 9.28% and a return on equity of 8.71%. The company’s revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) EPS. equities analysts expect that Spire Inc. will post 3.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th will be issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, December 8th. This is a positive change from Spire’s previous quarterly dividend of $0.53. Spire’s dividend payout ratio (DPR) is 59.66%.
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Several equities analysts recently commented on SR shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $71.00 target price on shares of Spire in a report on Thursday, August 3rd. J P Morgan Chase & Co increased their target price on shares of Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $73.00 target price on shares of Spire in a report on Monday, October 16th. Morgan Stanley raised their price target on shares of Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Finally, Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Spire has an average rating of “Hold” and a consensus price target of $75.00.
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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