Cramer Rosenthal Mcglynn LLC Acquires 2,990 Shares of Spire Inc (SR)
Cramer Rosenthal Mcglynn LLC increased its holdings in shares of Spire Inc (NYSE:SR) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,789 shares of the utilities provider’s stock after buying an additional 2,990 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.44% of Spire worth $15,959,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Bruderman Asset Management LLC bought a new position in Spire during the 2nd quarter worth approximately $124,000. LS Investment Advisors LLC raised its holdings 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 raised 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 purchasing an additional 144 shares during the last quarter. Public Employees Retirement System of Ohio raised 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 purchasing an additional 209 shares during the last quarter. Finally, Advisor Group Inc. raised 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 purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.
SR has been the subject of several analyst reports. 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. Royal Bank Of Canada restated a “hold” rating and set a $73.00 price target on shares of Spire in a report on Monday, October 16th. Stifel Nicolaus raised their price target on shares of 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 raised their price target on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Finally, ValuEngine lowered shares of Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Spire currently has an average rating of “Hold” and an average target price of $75.00.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.04. The company had revenue of $258.70 million during 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%. Spire’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) EPS. equities research analysts anticipate that Spire Inc will post 3.72 EPS for the current fiscal year.
The business also recently disclosed 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 represents a $2.25 annualized dividend and a dividend yield of 2.80%. This is a positive change from Spire’s previous quarterly dividend of $0.53. Spire’s payout ratio is currently 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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