Pacer Advisors Inc. purchased a new stake in shares of Spire Inc (NYSE:SR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,193 shares of the utilities provider’s stock, valued at approximately $1,695,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Metropolitan Life Insurance Co NY grew its stake in Spire by 77.8% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 28,337 shares of the utilities provider’s stock valued at $2,331,000 after buying an additional 12,399 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Spire by 9.6% in the second quarter. First Trust Advisors LP now owns 426,280 shares of the utilities provider’s stock worth $35,773,000 after acquiring an additional 37,430 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Spire in the second quarter worth $1,138,000. Dupont Capital Management Corp purchased a new position in shares of Spire in the first quarter valued at $255,000. Finally, Geode Capital Management LLC grew its position in shares of Spire by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 524,755 shares of the utilities provider’s stock valued at $38,873,000 after purchasing an additional 36,785 shares in the last quarter. 79.27% of the stock is currently owned by hedge funds and other institutional investors.

In other Spire news, EVP Steven P. Rasche bought 1,825 shares of Spire stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $27.33 per share, for a total transaction of $49,877.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the company. Wells Fargo & Co increased their price objective on Spire from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Zacks Investment Research downgraded Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley set a $80.00 target price on Spire and gave the company a “sell” rating in a report on Thursday, May 16th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $82.00.

Spire stock traded up $1.14 during midday trading on Wednesday, reaching $85.73. 8,362 shares of the stock were exchanged, compared to its average volume of 194,435. Spire Inc has a 52 week low of $70.53 and a 52 week high of $87.13. 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 cap of $4.29 billion, a PE ratio of 22.81, a PEG ratio of 5.12 and a beta of 0.19. The company’s fifty day moving average is $82.98 and its 200-day moving average is $83.07.

Spire (NYSE:SR) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.03). The firm had revenue of $321.30 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.31 earnings per share. On average, sell-side analysts anticipate that Spire Inc will post 3.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a dividend of $0.592 per share. This represents a $2.37 annualized dividend and a yield of 2.76%. The ex-dividend date is Tuesday, September 10th. Spire’s dividend payout ratio is 63.71%.

Spire Profile

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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Institutional Ownership by Quarter for Spire (NYSE:SR)

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