Spire Inc. (SR) Stake Lowered by Castleton Investment Management LLC
Castleton Investment Management LLC reduced its stake in Spire Inc. (NYSE:SR) by 33.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,816 shares of the utilities provider’s stock after selling 9,905 shares during the quarter. Castleton Investment Management LLC’s holdings in Spire were worth $1,382,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of SR. Schwab Charles Investment Management Inc. boosted its holdings in Spire by 1.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 236,198 shares of the utilities provider’s stock valued at $15,944,000 after acquiring an additional 2,958 shares during the period. Legal & General Group Plc grew its position in Spire by 12.2% in the 2nd quarter. Legal & General Group Plc now owns 226,078 shares of the utilities provider’s stock valued at $15,767,000 after acquiring an additional 24,657 shares in the last quarter. State of Alaska Department of Revenue grew its position in Spire by 87.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,522 shares of the utilities provider’s stock valued at $664,000 after acquiring an additional 4,452 shares in the last quarter. Citadel Advisors LLC grew its position in Spire by 15.4% in the 1st quarter. Citadel Advisors LLC now owns 17,953 shares of the utilities provider’s stock valued at $1,212,000 after acquiring an additional 2,396 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Spire by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,219,000 shares of the utilities provider’s stock valued at $284,783,000 after acquiring an additional 216,388 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.
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Shares of Spire Inc. (SR) traded up 0.13% during mid-day trading on Wednesday, hitting $74.75. The stock had a trading volume of 27,458 shares. The company’s 50 day moving average price is $75.95 and its 200 day moving average price is $71.69. The stock has a market cap of $3.61 billion, a P/E ratio of 21.60 and a beta of 0.32. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $78.00.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. Equities research analysts predict that Spire Inc. will post $3.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Monday, September 11th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, September 8th. This represents a $2.10 annualized dividend and a dividend yield of 2.81%. Spire’s payout ratio is currently 60.17%.
Several analysts have recently issued reports on SR shares. Morgan Stanley increased their price target on shares of Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $73.00 price objective on shares of Spire in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and issued a $71.00 price objective on shares of Spire in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Spire from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $72.17.
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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