Allspring Global Investments Holdings LLC Reduces Holdings in Spire Inc. (NYSE:SR)

Allspring Global Investments Holdings LLC trimmed its position in shares of Spire Inc. (NYSE:SRFree Report) by 19.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,746 shares of the utilities provider’s stock after selling 3,419 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Spire were worth $844,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of Spire by 34.4% during the fourth quarter. Signaturefd LLC now owns 887 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 227 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Spire by 30.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,349 shares of the utilities provider’s stock worth $84,000 after buying an additional 313 shares during the last quarter. Garner Asset Management Corp acquired a new position in Spire during the fourth quarter worth $159,000. Strs Ohio boosted its stake in Spire by 11.5% during the fourth quarter. Strs Ohio now owns 2,900 shares of the utilities provider’s stock worth $180,000 after buying an additional 300 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Spire during the fourth quarter worth $201,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SR shares. StockNews.com raised Spire from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group started coverage on Spire in a research note on Friday, April 12th. They set a “buy” rating and a $68.00 price objective on the stock. Mizuho lowered Spire from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $64.00 to $62.00 in a research note on Thursday, May 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $65.00 price target on shares of Spire in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price target on Spire from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Spire currently has an average rating of “Hold” and an average price target of $61.83.

View Our Latest Report on SR

Insider Activity at Spire

In other Spire news, EVP Steven P. Rasche bought 4,500 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $23.83 per share, with a total value of $107,235.00. Following the completion of the transaction, the executive vice president now owns 16,500 shares in the company, valued at $393,195. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.86% of the stock is currently owned by company insiders.

Spire Price Performance

SR stock opened at $59.15 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.48 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $3.42 billion, a PE ratio of 14.94, a P/E/G ratio of 2.77 and a beta of 0.51. Spire Inc. has a 12-month low of $53.77 and a 12-month high of $66.48. The business’s fifty day moving average price is $60.43 and its 200 day moving average price is $60.23.

Spire (NYSE:SRGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.86 by ($0.41). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Spire had a net margin of 9.05% and a return on equity of 7.88%. Spire’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.70 EPS. On average, sell-side analysts anticipate that Spire Inc. will post 4.32 EPS for the current year.

Spire Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 11th were paid a $0.755 dividend. This represents a $3.02 annualized dividend and a yield of 5.11%. The ex-dividend date was Tuesday, June 11th. Spire’s payout ratio is currently 76.26%.

About Spire

(Free Report)

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.

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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