California Public Employees Retirement System Sells 1,365 Shares of Spire Inc. (NYSE:SR)

California Public Employees Retirement System trimmed its stake in Spire Inc. (NYSE:SR) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 263,839 shares of the utilities provider’s stock after selling 1,365 shares during the period. California Public Employees Retirement System’s holdings in Spire were worth $16,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. AE Wealth Management LLC raised its stake in Spire by 11.2% during the 3rd quarter. AE Wealth Management LLC now owns 10,325 shares of the utilities provider’s stock worth $584,000 after acquiring an additional 1,041 shares during the period. Raymond James & Associates raised its position in shares of Spire by 85.7% during the 3rd quarter. Raymond James & Associates now owns 48,150 shares of the utilities provider’s stock valued at $2,724,000 after purchasing an additional 22,216 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Spire by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,325 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 258 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Spire by 48.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,988 shares of the utilities provider’s stock valued at $282,000 after buying an additional 1,630 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Spire by 11.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,553 shares of the utilities provider’s stock worth $541,000 after buying an additional 1,018 shares during the period. 87.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

SR has been the topic of several research analyst reports. LADENBURG THALM/SH SH began coverage on Spire in a research report on Friday. They issued a “neutral” rating and a $57.50 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 price target on shares of Spire in a report on Tuesday, April 16th. Mizuho cut their price objective on shares of Spire from $66.00 to $64.00 and set a “buy” rating for the company in a report on Monday, January 22nd. Finally, UBS Group assumed coverage on shares of Spire in a report on Friday, April 12th. They issued a “buy” rating and a $68.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Spire currently has a consensus rating of “Hold” and an average price target of $61.72.

Spire Stock Performance

NYSE SR opened at $61.63 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.55 and a quick ratio of 0.43. Spire Inc. has a 1-year low of $53.77 and a 1-year high of $69.99. The business has a 50 day simple moving average of $60.06 and a two-hundred day simple moving average of $60.03. The stock has a market capitalization of $3.39 billion, a PE ratio of 16.61, a P/E/G ratio of 2.83 and a beta of 0.51.

Spire (NYSE:SR) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Spire had a return on equity of 8.27% and a net margin of 8.11%. The firm had revenue of $756.60 million during the quarter, compared to the consensus estimate of $688.88 million. During the same period in the prior year, the company earned $1.55 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, research analysts predict that Spire Inc. will post 4.34 EPS for the current fiscal year.

Spire Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be paid a $0.755 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.90%. Spire’s payout ratio is currently 81.40%.

Insider Transactions at Spire

In related news, Treasurer Adam W. Woodard sold 1,229 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the transaction, the treasurer now owns 1,560 shares of the company’s stock, valued at approximately $92,944.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Joseph B. Hampton sold 1,294 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total value of $75,220.22. Following the completion of the sale, the insider now directly owns 6,768 shares in the company, valued at $393,423.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer Adam W. Woodard sold 1,229 shares of Spire stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following the transaction, the treasurer now directly owns 1,560 shares of the company’s stock, valued at $92,944.80. The disclosure for this sale can be found here. Insiders own 2.86% of the company’s stock.

About Spire

Spire Inc, together with 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 three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.