World Asset Management Inc Buys Shares of 3,176 Spire Inc. (SR)
World Asset Management Inc bought a new position in shares of Spire Inc. (NYSE:SR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,176 shares of the utilities provider’s stock, valued at approximately $222,000.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased its stake in Spire by 2.4% in the first quarter. IFP Advisors Inc now owns 7,191 shares of the utilities provider’s stock valued at $485,000 after buying an additional 170 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in Spire during the first quarter valued at about $1,171,000. Strs Ohio increased its stake in Spire by 0.7% in the first quarter. Strs Ohio now owns 54,900 shares of the utilities provider’s stock valued at $3,705,000 after buying an additional 400 shares during the period. Janney Montgomery Scott LLC increased its stake in Spire by 53.7% in the first quarter. Janney Montgomery Scott LLC now owns 31,010 shares of the utilities provider’s stock valued at $2,093,000 after buying an additional 10,832 shares during the period. Finally, Cardinal Capital Management increased its stake in Spire by 1.2% in the first quarter. Cardinal Capital Management now owns 15,745 shares of the utilities provider’s stock valued at $1,063,000 after buying an additional 191 shares during the period. 78.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Spire Inc. (SR) opened at 75.85 on Friday. The company’s 50-day moving average is $72.50 and its 200 day moving average is $69.10. The stock has a market cap of $3.66 billion, a P/E ratio of 21.92 and a beta of 0.33. Spire Inc. has a 1-year low of $59.54 and a 1-year high of $76.80.
Spire (NYSE:SR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The firm had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. Equities research analysts anticipate that Spire Inc. will post $3.57 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s payout ratio is currently 60.17%.
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Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $73.00 price target on shares of Spire in a research note on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $71.00 price target on shares of Spire in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Spire from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $71.83.
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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