57,949 Shares in Spire Inc. $SR Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd bought a new position in shares of Spire Inc. (NYSE:SR) during the second quarter, Holdings Channel reports. The fund bought 57,949 shares of the utilities provider’s stock, valued at approximately $4,525,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SR. Los Angeles Capital Management LLC acquired a new position in Spire in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in Spire in the fourth quarter valued at $33,000. SHP Wealth Management acquired a new position in shares of Spire in the 4th quarter valued at $35,000. Headlands Technologies LLC acquired a new position in shares of Spire in the 2nd quarter valued at $38,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Spire during the 4th quarter worth $43,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SR. BTIG Research set a $101.00 price target on shares of Spire in a research report on Thursday, July 23rd. Wall Street Zen upgraded Spire from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Morgan Stanley dropped their price objective on Spire from $96.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group cut their price objective on Spire from $106.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Wolfe Research assumed coverage on Spire in a research note on Tuesday, May 26th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Spire Stock Up 0.1%

Shares of NYSE SR opened at $80.97 on Monday. The business has a 50-day moving average of $80.59 and a two-hundred day moving average of $85.84. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 1.80 and a beta of 0.52. Spire Inc. has a 1 year low of $73.91 and a 1 year high of $95.31. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.37 and a quick ratio of 0.27.

Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.06. The business had revenue of $420.20 million during the quarter, compared to the consensus estimate of $394.62 million. Spire had a net margin of 21.48% and a return on equity of 8.65%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. Spire has set its FY 2026 guidance at 3.900-4.100 EPS. On average, analysts forecast that Spire Inc. will post 4.01 earnings per share for the current fiscal year.

Spire Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $0.825 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.30 dividend on an annualized basis and a yield of 4.1%. Spire’s payout ratio is currently 36.79%.

Insider Activity at Spire

In related news, SVP Ryan L. Hyman sold 3,822 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $80.51, for a total value of $307,709.22. Following the completion of the sale, the senior vice president owned 14,295 shares in the company, valued at $1,150,890.45. This represents a 21.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul D. Koonce purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $78.46 per share, with a total value of $39,230.00. Following the purchase, the director owned 8,000 shares in the company, valued at $627,680. This trade represents a 6.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.26% of the stock is currently owned by corporate insiders.

About Spire

Spire Inc (NYSE: SR), formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire’s service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.