Raymond James Financial Services Advisors Inc. Has $309,000 Position in Spire Inc (SR)
Raymond James Financial Services Advisors Inc. reduced its stake in shares of Spire Inc (NYSE:SR) by 34.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,146 shares of the utilities provider’s stock after selling 2,154 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Spire were worth $309,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bruderman Asset Management LLC bought a new position in Spire during the 2nd quarter worth $124,000. LS Investment Advisors LLC raised its position in Spire by 13.0% during the 2nd quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 206 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Spire by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 144 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Spire by 11.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 209 shares during the period. Finally, Advisor Group Inc. grew its holdings in Spire by 30.7% during the 2nd quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 504 shares during the period. 80.14% of the stock is owned by institutional investors and hedge funds.
Shares of Spire Inc (SR) traded down $0.45 during trading on Friday, reaching $80.20. The company’s stock had a trading volume of 155,867 shares, compared to its average volume of 158,311. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.46 and a current ratio of 0.66. Spire Inc has a 52-week low of $62.33 and a 52-week high of $82.85. The firm has a market cap of $3,870.00, a P/E ratio of 22.13, a P/E/G ratio of 4.06 and a beta of 0.31.
Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.04. The firm had revenue of $258.70 million during the quarter, compared to the consensus estimate of $271.65 million. Spire had a return on equity of 8.71% and a net margin of 9.28%. The business’s revenue was down 7.4% compared to the same quarter last year. During the same period last year, the business posted ($0.32) EPS. analysts forecast that Spire Inc will post 3.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 11th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Friday, December 8th. This is an increase from Spire’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a dividend yield of 2.81%. Spire’s dividend payout ratio (DPR) is currently 59.66%.
A number of analysts have weighed in on SR shares. Morgan Stanley increased their price target on Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price target on shares of Spire in a report on Monday, October 16th. Stifel Nicolaus increased their price target on Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. J P Morgan Chase & Co increased their price target on Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Finally, ValuEngine downgraded Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Spire presently has an average rating of “Hold” and an average price target of $75.00.
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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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