Kavar Capital Partners LLC acquired a new position in Spire Inc (NYSE:SR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,193 shares of the utilities provider’s stock, valued at approximately $184,000.
A number of other large investors have also modified their holdings of SR. Norges Bank bought a new position in Spire in the fourth quarter worth approximately $30,284,000. American Century Companies Inc. increased its position in shares of Spire by 6.1% during the first quarter. American Century Companies Inc. now owns 3,394,915 shares of the utilities provider’s stock worth $279,368,000 after purchasing an additional 194,435 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Spire during the first quarter worth $13,674,000. FMR LLC increased its position in shares of Spire by 19.7% during the first quarter. FMR LLC now owns 821,696 shares of the utilities provider’s stock worth $67,617,000 after purchasing an additional 135,051 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Spire by 13.1% during the first quarter. Northern Trust Corp now owns 1,135,646 shares of the utilities provider’s stock worth $93,452,000 after purchasing an additional 131,295 shares in the last quarter. 78.55% of the stock is owned by institutional investors.
Shares of SR stock traded up $0.82 during trading hours on Thursday, reaching $81.07. 3,162 shares of the company’s stock were exchanged, compared to its average volume of 230,632. The business’s 50 day moving average price is $83.81. The stock has a market cap of $4.09 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 4.88 and a beta of 0.21. The company has a current ratio of 0.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.86. Spire Inc has a fifty-two week low of $70.53 and a fifty-two week high of $87.13.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.592 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, September 10th. Spire’s payout ratio is 63.71%.
In other news, Director Edward L. Glotzbach bought 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $26.00 per share, with a total value of $208,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.
SR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Spire from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Credit Suisse Group set a $75.00 price target on Spire and gave the stock a “sell” rating in a research report on Monday, April 22nd. Wells Fargo & Co reduced their price target on Spire from $91.00 to $88.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley set a $80.00 price target on Spire and gave the stock a “sell” rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $81.80.
Spire Company Profile
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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