Cutter & CO Brokerage Inc. Sells 610 Shares of Spire Inc (SR)

Cutter & CO Brokerage Inc. lowered its stake in Spire Inc (NYSE:SR) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,048 shares of the utilities provider’s stock after selling 610 shares during the period. Spire makes up about 1.1% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 26th largest position. Cutter & CO Brokerage Inc. owned approximately 0.08% of Spire worth $2,568,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Windsor Capital Management LLC increased its stake in shares of Spire by 5.0% in the first quarter. Windsor Capital Management LLC now owns 9,597 shares of the utilities provider’s stock valued at $647,000 after buying an additional 461 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Spire by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 42,767 shares of the utilities provider’s stock valued at $2,887,000 after buying an additional 6,454 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Spire by 12.8% in the first quarter. Parametric Portfolio Associates LLC now owns 182,987 shares of the utilities provider’s stock valued at $12,352,000 after buying an additional 20,762 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock valued at $108,000 after buying an additional 407 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of 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 valued at $223,000 after buying an additional 255 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Spire (NYSE:SR)

Shares of Spire Inc (NYSE:SR) traded up 0.29% during midday trading on Friday, reaching $69.40. 172,616 shares of the company traded hands. The company’s 50 day moving average is $68.89 and its 200-day moving average is $65.63. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 21.19 and a beta of 0.34. Spire Inc has a 12 month low of $59.54 and a 12 month high of $71.21.

Spire (NYSE:SR) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.01. The firm had revenue of $663.40 million for the quarter, compared to analysts’ expectations of $662.43 million. Spire had a net margin of 8.73% and a return on equity of 8.60%. Spire’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.37 earnings per share. Equities research analysts forecast that Spire Inc will post $3.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 12th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $2.10 dividend on an annualized basis and a yield of 3.03%. Spire’s dividend payout ratio (DPR) is 65.02%.

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Several brokerages recently weighed in on SR. Morgan Stanley upped their target price on shares of Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. Zacks Investment Research raised shares of Spire from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Finally, Credit Suisse Group AG began coverage on shares of Spire in a research note on Wednesday, January 25th. They set a “neutral” rating and a $68.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Spire currently has an average rating of “Hold” and a consensus target price of $68.80.

Spire Company Profile

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.

12 Month Chart for NYSE:SR

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