Harfst & Associates Inc. Buys New Shares in S&P Global Inc. $SPGI

Key Points

• Harfst & Associates Inc. has acquired a new stake in S&P Global Inc., adding 1,217 shares valued at approximately $618,000, as reported in their latest SEC filing.
• S&P Global has announced a quarterly dividend of $0.96 per share, set to be paid on September 10th, translating to an annual dividend yield of 0.7%.
• The company recently surpassed earnings expectations, reporting $4.43 earnings per share for the quarter, exceeding the consensus estimate of $4.18.

Harfst & Associates Inc. purchased a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,217 shares of the business services provider's stock, valued at approximately $618,000.

A number of other large investors have also recently bought and sold shares of the business. Sit Investment Associates Inc. boosted its stake in S&P Global by 7.3% during the 1st quarter. Sit Investment Associates Inc. now owns 18,945 shares of the business services provider's stock worth $9,626,000 after purchasing an additional 1,287 shares during the period. Varenne Capital Partners acquired a new stake in S&P Global during the 1st quarter worth $7,213,000. American Money Management LLC lifted its stake in shares of S&P Global by 20.5% in the 1st quarter. American Money Management LLC now owns 5,957 shares of the business services provider's stock worth $3,027,000 after acquiring an additional 1,012 shares during the period. Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of S&P Global in the 1st quarter worth $320,000. Finally, E Fund Management Co. Ltd. lifted its stake in shares of S&P Global by 59.7% in the 1st quarter. E Fund Management Co. Ltd. now owns 2,909 shares of the business services provider's stock worth $1,478,000 after acquiring an additional 1,088 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Price Performance

Shares of NYSE SPGI traded up $4.7510 during midday trading on Tuesday, hitting $555.9610. The company had a trading volume of 718,546 shares, compared to its average volume of 1,277,279. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The business has a 50-day simple moving average of $530.60 and a two-hundred day simple moving average of $512.67. The firm has a market capitalization of $169.73 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 2.98 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm posted $4.04 EPS. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities research analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 29.54%.

Analysts Set New Price Targets

Several research firms have recently commented on SPGI. JPMorgan Chase & Co. raised their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Stifel Nicolaus reduced their target price on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Oppenheimer raised their target price on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Argus upgraded shares of S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company raised their target price on shares of S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $611.69.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.