Robeco Institutional Asset Management B.V. Trims Holdings in Spire Inc (NYSE:SR)
Robeco Institutional Asset Management B.V. cut its holdings in Spire Inc (NYSE:SR) by 0.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 543,632 shares of the utilities provider’s stock after selling 602 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Spire were worth $45,290,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Knuff & Co LLC purchased a new stake in shares of Spire in the 3rd quarter worth about $27,000. Tower Research Capital LLC TRC boosted its stake in Spire by 42.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,105 shares of the utilities provider’s stock worth $97,000 after purchasing an additional 329 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in Spire in the 3rd quarter worth about $201,000. World Asset Management Inc bought a new position in Spire in the 3rd quarter worth about $206,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in Spire in the 4th quarter worth about $234,000. 80.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on SR. Royal Bank of Canada reiterated a “hold” rating and issued a $84.00 price target on shares of Spire in a research note on Sunday, January 19th. Bank of America reiterated a “buy” rating and issued a $89.00 price objective on shares of Spire in a research note on Tuesday, January 7th. Credit Suisse Group reiterated a “sell” rating and issued a $75.00 price objective on shares of Spire in a research note on Monday, December 2nd. ValuEngine cut shares of Spire from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Sidoti initiated coverage on shares of Spire in a research note on Wednesday, January 29th. They issued a “neutral” rating and a $89.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Spire currently has a consensus rating of “Hold” and a consensus price target of $86.50.
Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.07. Spire had a net margin of 9.53% and a return on equity of 7.85%. The firm had revenue of $566.90 million for the quarter, compared to analysts’ expectations of $588.22 million. During the same quarter in the prior year, the business earned $1.30 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, research analysts anticipate that Spire Inc will post 3.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 11th will be issued a $0.6225 dividend. This represents a $2.49 annualized dividend and a yield of 2.85%. This is a positive change from Spire’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Tuesday, March 10th. Spire’s dividend payout ratio is currently 66.76%.
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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