New Mexico Educational Retirement Board decreased its stake in Spire Inc (NYSE:SR) by 14.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,800 shares of the utilities provider’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Spire were worth $738,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Spire by 6.1% in the 1st quarter. American Century Companies Inc. now owns 3,394,915 shares of the utilities provider’s stock valued at $279,368,000 after buying an additional 194,435 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Spire by 13.1% in the 1st quarter. Northern Trust Corp now owns 1,135,646 shares of the utilities provider’s stock valued at $93,452,000 after buying an additional 131,295 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Spire by 1.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,023,438 shares of the utilities provider’s stock valued at $84,219,000 after buying an additional 10,288 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Spire by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 940,227 shares of the utilities provider’s stock valued at $69,651,000 after buying an additional 9,987 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Spire by 19.7% in the 1st quarter. FMR LLC now owns 821,696 shares of the utilities provider’s stock valued at $67,617,000 after buying an additional 135,051 shares in the last quarter. Institutional investors and hedge funds own 78.89% of the company’s stock.
Several research analysts have recently issued reports on SR shares. Zacks Investment Research cut shares of Spire from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Morgan Stanley set a $80.00 price target on shares of Spire and gave the stock a “sell” rating in a research note on Thursday, May 16th. Finally, Wells Fargo & Co decreased their price target on shares of Spire from $91.00 to $88.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.80.
Spire (NYSE:SR) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). The business had revenue of $321.30 million for the quarter, compared to analyst estimates of $333.14 million. Spire had a return on equity of 7.56% and a net margin of 9.74%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. Research analysts forecast that Spire Inc will post 3.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a dividend of $0.592 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, September 10th. Spire’s dividend payout ratio is currently 63.71%.
In other news, EVP Steven P. Rasche acquired 1,825 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $27.33 per share, for a total transaction of $49,877.25. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward L. Glotzbach acquired 8,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $26.00 per share, with a total value of $208,000.00. The disclosure for this purchase can be found here. 2.90% of the stock is owned by corporate insiders.
Spire Company Profile
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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