IFM Investors Pty Ltd Reduces Stock Position in Spire Inc. $SR

Key Points

• IFM Investors Pty Ltd has reduced its stake in Spire Inc. by 46.7%, holding 4,016 shares worth approximately $314,000 following the sale of 3,520 shares.
• Spire recently announced a quarterly dividend of $0.785 per share, reflecting a dividend yield of 4.1% and a payout ratio of 67.82%.
• Spire's latest earnings report showed a profit of $0.01 per share, exceeding expectations, and revenue increased by 1.9% year-over-year to $421.90 million.

IFM Investors Pty Ltd lowered its holdings in shares of Spire Inc. (NYSE:SR - Free Report) by 46.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,016 shares of the utilities provider's stock after selling 3,520 shares during the quarter. IFM Investors Pty Ltd's holdings in Spire were worth $314,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new position in Spire during the 1st quarter valued at $50,000. State of Wyoming purchased a new position in Spire during the 4th quarter valued at $52,000. Bayforest Capital Ltd boosted its holdings in Spire by 2,648.0% during the 1st quarter. Bayforest Capital Ltd now owns 687 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 662 shares during the period. GAMMA Investing LLC boosted its holdings in Spire by 66.0% during the 1st quarter. GAMMA Investing LLC now owns 727 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 289 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Spire by 103.8% during the 1st quarter. Golden State Wealth Management LLC now owns 803 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Spire Trading Down 0.2%

Shares of NYSE SR opened at $76.10 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.37 and a quick ratio of 0.27. The stock has a market capitalization of $4.49 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.48 and a beta of 0.70. Spire Inc. has a 1-year low of $61.56 and a 1-year high of $79.81. The business has a fifty day moving average price of $75.74 and a 200 day moving average price of $75.42.

Spire (NYSE:SR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. The firm had revenue of $421.90 million during the quarter, compared to analysts' expectations of $417.27 million. Spire had a return on equity of 8.66% and a net margin of 11.56%.The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) EPS. Spire has set its FY 2025 guidance at 4.400-4.60 EPS. Equities research analysts expect that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, September 11th. Spire's dividend payout ratio is 67.82%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SR. JPMorgan Chase & Co. lowered their target price on Spire from $85.00 to $83.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th. Morgan Stanley reiterated an "underperform" rating on shares of Spire in a report on Wednesday, June 18th. Bank of America reiterated an "underperform" rating and issued a $76.00 target price (down from $81.00) on shares of Spire in a report on Friday, August 15th. Finally, Stifel Nicolaus set a $81.00 target price on Spire and gave the stock a "hold" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Spire currently has a consensus rating of "Hold" and an average price target of $79.20.

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.

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