CENTRAL TRUST Co reduced its stake in shares of Spire Inc (NYSE:SR) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,136 shares of the utilities provider’s stock after selling 140 shares during the quarter. CENTRAL TRUST Co’s holdings in Spire were worth $1,320,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. purchased a new stake in Spire in the second quarter valued at about $39,000. Point72 Asset Management L.P. purchased a new stake in Spire in the second quarter valued at about $50,000. Krane Funds Advisors LLC purchased a new stake in Spire in the second quarter valued at about $58,000. Point72 Hong Kong Ltd purchased a new stake in Spire in the second quarter valued at about $70,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Spire in the second quarter valued at about $170,000. Hedge funds and other institutional investors own 79.27% of the company’s stock.
SR has been the subject of a number of research analyst reports. Wells Fargo & Co increased their price target on Spire from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. ValuEngine cut Spire from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Spire from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $84.50.
In related news, EVP Steven P. Rasche bought 1,108 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $27.20 per share, with a total value of $30,137.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.
Shares of SR stock opened at $83.09 on Tuesday. The stock’s 50-day simple moving average is $85.43 and its 200-day simple moving average is $84.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.40 and a current ratio of 0.53. The firm has a market capitalization of $4.27 billion, a PE ratio of 22.34, a P/E/G ratio of 4.00 and a beta of 0.17. Spire Inc has a fifty-two week low of $70.53 and a fifty-two week high of $88.00.
Spire (NYSE:SR) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The firm had revenue of $321.30 million during the quarter, compared to analyst estimates of $333.14 million. Spire had a net margin of 9.74% and a return on equity of 7.56%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Sell-side analysts forecast that Spire Inc will post 3.75 earnings per share for the current year.
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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