Resolution Capital Ltd Grows Position in Spire Inc. $SR

Resolution Capital Ltd increased its holdings in shares of Spire Inc. (NYSE:SR) by 14.9% in the first quarter, Holdings Channel reports. The firm owned 162,379 shares of the utilities provider’s stock after buying an additional 21,116 shares during the period. Spire comprises 0.3% of Resolution Capital Ltd’s investment portfolio, making the stock its 24th largest holding. Resolution Capital Ltd’s holdings in Spire were worth $14,702,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SR. Sound Income Strategies LLC purchased a new position in Spire during the fourth quarter worth about $25,000. Optima Capital LLC purchased a new stake in shares of Spire in the 4th quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Spire in the 4th quarter worth approximately $25,000. MV Capital Management Inc. acquired a new position in shares of Spire in the 4th quarter worth approximately $33,000. Finally, SHP Wealth Management acquired a new position in shares of Spire in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Spire Price Performance

Shares of SR opened at $82.58 on Wednesday. Spire Inc. has a fifty-two week low of $71.24 and a fifty-two week high of $95.31. The firm’s 50 day moving average price is $81.02 and its 200 day moving average price is $86.07. The company has a market cap of $4.88 billion, a P/E ratio of 14.51, a PEG ratio of 1.84 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.69.

Spire (NYSE:SR) last released its earnings results on Wednesday, May 6th. The utilities provider reported $3.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.04. Spire had a net margin of 13.97% and a return on equity of 9.49%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $3.60 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts forecast that Spire Inc. will post 4.02 earnings per share for the current fiscal year.

Spire Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, June 11th. Spire’s dividend payout ratio (DPR) is presently 58.00%.

Insiders Place Their Bets

In related news, Director Paul D. Koonce purchased 2,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought at an average price of $85.81 per share, for a total transaction of $171,620.00. Following the acquisition, the director directly owned 7,000 shares in the company, valued at $600,670. This trade represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ryan L. Hyman sold 3,822 shares of the stock in a transaction dated 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 directly owned 14,295 shares in the company, valued at $1,150,890.45. This represents a 21.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 3,000 shares of company stock valued at $251,100. 2.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $85.00 target price (up from $84.00) on shares of Spire in a report on Friday, June 26th. BTIG Research set a $101.00 price target on Spire in a research report on Thursday, July 23rd. Wolfe Research began coverage on Spire in a research note on Tuesday, May 26th. They issued a “peer perform” rating for the company. Morgan Stanley reiterated an “overweight” rating on shares of Spire in a report on Wednesday, July 22nd. Finally, Wall Street Zen lowered Spire from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Spire presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

Spire Company Profile

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.