Meeder Asset Management Inc. Acquires Shares of 13,574 Spire Inc (NYSE:SR)

Meeder Asset Management Inc. acquired a new stake in shares of Spire Inc (NYSE:SR) in the 2nd quarter, reports. The firm acquired 13,574 shares of the utilities provider’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chicago Equity Partners LLC lifted its position in shares of Spire by 78.5% during the second quarter. Chicago Equity Partners LLC now owns 11,405 shares of the utilities provider’s stock worth $957,000 after purchasing an additional 5,015 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Spire by 2.3% during the second quarter. Swiss National Bank now owns 94,450 shares of the utilities provider’s stock worth $7,926,000 after purchasing an additional 2,100 shares during the period. Kavar Capital Partners LLC acquired a new stake in shares of Spire during the second quarter worth $184,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Spire during the second quarter worth $3,768,000. Finally, Cutter & CO Brokerage Inc. acquired a new stake in shares of Spire during the second quarter worth $2,725,000. Hedge funds and other institutional investors own 78.89% of the company’s stock.

In other Spire news, Director Edward L. Glotzbach bought 8,000 shares of Spire stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $26.00 per share, with a total value of $208,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by company insiders.

Shares of NYSE SR traded down $0.03 during mid-day trading on Wednesday, hitting $81.63. 496 shares of the company were exchanged, compared to its average volume of 234,807. The company has a quick ratio of 0.40, a current ratio of 0.53 and a debt-to-equity ratio of 0.86. The stock has a 50 day simple moving average of $83.63 and a 200-day simple moving average of $82.44. Spire Inc has a 1-year low of $70.53 and a 1-year high of $87.13. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 5.00 and a beta of 0.21.

Spire (NYSE:SR) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Spire had a net margin of 9.74% and a return on equity of 7.56%. The business had revenue of $321.30 million during the quarter, compared to analyst estimates of $333.14 million. During the same period last year, the business posted $0.31 EPS. Spire’s revenue was down 8.4% compared to the same quarter last year. Analysts anticipate that Spire Inc will post 3.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a $0.592 dividend. This represents a $2.37 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Tuesday, September 10th. Spire’s dividend payout ratio (DPR) is currently 63.71%.

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $80.00 price target on Spire and gave the stock a “sell” rating in a report on Thursday, May 16th. Wells Fargo & Co decreased their price target on Spire from $91.00 to $88.00 and set a “market perform” rating for the company in a report on Friday, August 9th. Finally, Zacks Investment Research downgraded Spire from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $81.80.

About Spire

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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Institutional Ownership by Quarter for Spire (NYSE:SR)

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