Meiji Yasuda Asset Management Co Ltd. Buys New Position in Spire Inc. $SR

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Spire Inc. (NYSE:SR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 118,826 shares of the utilities provider’s stock, valued at approximately $9,279,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SR. Los Angeles Capital Management LLC acquired a new position in shares of Spire in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in Spire in the 4th quarter worth approximately $33,000. SHP Wealth Management purchased a new stake in Spire in the 4th quarter worth approximately $35,000. Headlands Technologies LLC acquired a new position in 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 hedge funds and other institutional investors.

Spire Price Performance

SR opened at $80.97 on Monday. Spire Inc. has a 52-week low of $73.91 and a 52-week high of $95.31. The company has a 50 day moving average of $80.59 and a two-hundred day moving average of $85.84. The company has a market cap of $4.79 billion, a P/E ratio of 9.03, a P/E/G ratio of 1.80 and a beta of 0.52. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.61.

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

Spire Announces Dividend

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 given a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.30 annualized dividend and a yield of 4.1%. Spire’s dividend payout ratio (DPR) is 36.79%.

Insider Buying and Selling

In other news, Director Paul D. Koonce bought 500 shares of Spire stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $78.46 per share, with a total value of $39,230.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at approximately $627,680. This trade represents a 6.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $307,709.22. Following the completion of the transaction, the senior vice president owned 14,295 shares of the company’s stock, valued at $1,150,890.45. This trade represents a 21.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SR. Wells Fargo & Company assumed coverage on shares of Spire in a report on Monday, May 11th. They set an “overweight” rating and a $96.00 price objective on the stock. Wolfe Research initiated coverage on shares of Spire in a research note on Tuesday, May 26th. They set a “peer perform” rating on the stock. UBS Group decreased their price target on shares of Spire from $106.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $85.00 price objective (up from $84.00) on shares of Spire in a research note on Friday, June 26th. Finally, Wall Street Zen raised Spire from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Spire 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.