Deutsche Bank AG Lowers Stock Holdings in Spire Inc. (NYSE:SR)

Deutsche Bank AG reduced its position in shares of Spire Inc. (NYSE:SR) by 94.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,418 shares of the utilities provider’s stock after selling 1,530,207 shares during the period. Deutsche Bank AG owned about 0.17% of Spire worth $5,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SR. Brookfield Asset Management Inc. boosted its position in shares of Spire by 75.1% during the second quarter. Brookfield Asset Management Inc. now owns 886,600 shares of the utilities provider’s stock worth $64,075,000 after buying an additional 380,300 shares during the period. Invesco Ltd. raised its stake in shares of Spire by 211.3% in the second quarter. Invesco Ltd. now owns 359,585 shares of the utilities provider’s stock valued at $25,987,000 after acquiring an additional 244,087 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Spire by 33.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 705,735 shares of the utilities provider’s stock valued at $43,176,000 after acquiring an additional 177,805 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Spire by 27.8% in the third quarter. Victory Capital Management Inc. now owns 656,906 shares of the utilities provider’s stock valued at $40,189,000 after acquiring an additional 143,031 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in shares of Spire by 61.1% in the second quarter. Deprince Race & Zollo Inc. now owns 341,031 shares of the utilities provider’s stock valued at $24,646,000 after acquiring an additional 129,293 shares in the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Shares of SR stock opened at $66.73 on Friday. The stock’s 50-day moving average is $63.49 and its two-hundred day moving average is $66.32. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 3.12 and a beta of 0.33. Spire Inc. has a 1 year low of $59.29 and a 1 year high of $77.95. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.63 and a current ratio of 0.82.

Spire (NYSE:SR) last issued its quarterly earnings data on Monday, November 22nd. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.37. The company had revenue of $290.20 million for the quarter, compared to analyst estimates of $254.89 million. Spire had a return on equity of 10.81% and a net margin of 11.98%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.37) earnings per share. As a group, research analysts predict that Spire Inc. will post 3.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 4th. Investors of record on Friday, December 10th were issued a dividend of $0.685 per share. The ex-dividend date was Thursday, December 9th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from Spire’s previous quarterly dividend of $0.65. Spire’s dividend payout ratio (DPR) is currently 55.13%.

Several analysts have recently issued reports on the company. Mizuho cut Spire from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Wednesday, January 5th. JPMorgan Chase & Co. cut Spire from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $76.00 to $70.00 in a research note on Tuesday, November 16th. Bank of America cut Spire from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $63.00 to $58.00 in a research note on Tuesday, November 23rd. Wells Fargo & Company cut their price target on Spire from $78.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, November 22nd. Finally, Morgan Stanley raised their price target on Spire from $61.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.33.

Spire Company Profile

Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the following business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.

Further Reading: Why is the price-sales ratio important?

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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