Schwab Charles Investment Management Inc. boosted its stake in Spire Inc. (NYSE:SR) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,198 shares of the utilities provider’s stock after buying an additional 2,958 shares during the period. Schwab Charles Investment Management Inc. owned 0.49% of Spire worth $15,944,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Spire by 86.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,200 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,019 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock worth $223,000 after buying an additional 255 shares during the period. Everence Capital Management Inc. purchased a new stake in Spire during the first quarter worth $242,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Spire by 19.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the utilities provider’s stock worth $271,000 after buying an additional 654 shares during the period. Institutional investors and hedge funds own 74.23% of the company’s stock.
Spire Inc. (NYSE:SR) traded down 0.69% on Monday, reaching $71.50. 34,173 shares of the company traded hands. The company has a market capitalization of $3.45 billion, a PE ratio of 21.83 and a beta of 0.33. Spire Inc. has a 52-week low of $59.54 and a 52-week high of $72.82. The stock has a 50-day moving average of $70.60 and a 200 day moving average of $67.70.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $2.38 EPS for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.01. Spire had a net margin of 8.87% and a return on equity of 8.66%. The company had revenue of $663.40 million during the quarter, compared to the consensus estimate of $662.43 million. During the same period in the prior year, the business posted $2.37 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Spire Inc. will post $3.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 12th were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, June 8th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.92%. Spire’s dividend payout ratio is 64.02%.
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A number of research firms recently weighed in on SR. Zacks Investment Research downgraded Spire from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley lifted their price objective on Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $70.80.
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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