Pacer Advisors Inc. Increases Holdings in Spire Inc (SR)
Pacer Advisors Inc. boosted its position in Spire Inc (NYSE:SR) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,967 shares of the utilities provider’s stock after purchasing an additional 725 shares during the period. Pacer Advisors Inc.’s holdings in Spire were worth $520,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its position 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 buying an additional 188,507 shares in the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 224,903 shares in the last quarter. American Century Companies Inc. lifted its position 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 buying an additional 1,930,140 shares in the last quarter. State Street Corp lifted its position 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 buying an additional 67,106 shares in the last quarter. Finally, Northern Trust Corp lifted its position 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 buying an additional 122,444 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.
SR has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Spire from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $73.00 price objective on shares of Spire in a research report on Monday, October 16th. Stifel Nicolaus lifted their price objective on Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. J P Morgan Chase & Co lifted their price objective on Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised Spire from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Spire presently has a consensus rating of “Hold” and a consensus target price of $75.00.
Spire (NYSE:SR) last issued its earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.04. The company had revenue of $258.70 million for 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 firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) EPS. equities research analysts predict that Spire Inc will post 3.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 11th will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, December 8th. This is an increase from Spire’s previous quarterly dividend of $0.53. Spire’s dividend payout ratio (DPR) is 59.66%.
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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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