Leeward Investments LLC MA Has $12.77 Million Position in Spire Inc. $SR

Key Points

• Leeward Investments LLC MA increased its stake in Spire by 19.4% in the first quarter, ending with 141,025 shares valued at about $12.77 million.
• Spire reported Q1 EPS of $3.76, beating analyst expectations, though revenue of $1.02 billion came in below consensus. Analysts currently see the stock as a Moderate Buy with an average target price of $96.22.
• The company declared a quarterly dividend of $0.825 per share, equal to an annualized yield of about 4.2%. In insider trading, a director bought shares while an executive vice president sold shares in recent transactions.

Leeward Investments LLC MA lifted its stake in Spire Inc. (NYSE:SR - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,025 shares of the utilities provider's stock after buying an additional 22,923 shares during the period. Leeward Investments LLC MA owned about 0.24% of Spire worth $12,768,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Community Bank N.A. bought a new position in Spire during the third quarter valued at about $25,000. Sound Income Strategies LLC bought a new stake in shares of Spire in the 4th quarter worth approximately $25,000. Optima Capital LLC acquired a new stake in shares of Spire during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Spire during the 4th quarter worth approximately $25,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Spire during the 4th quarter worth approximately $33,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Spire

In other news, Director Paul D. Koonce bought 500 shares of Spire stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $78.46 per share, for a total transaction of $39,230.00. Following the purchase, the director owned 8,000 shares of the company's stock, valued at approximately $627,680. This trade represents a 6.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ryan L. Hyman sold 3,822 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total transaction of $307,709.22. Following the sale, the senior vice president owned 14,295 shares of the company's stock, valued at $1,150,890.45. This trade represents a 21.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought a total of 3,000 shares of company stock worth $251,100 in the last 90 days. 2.26% of the stock is owned by corporate insiders.

Spire Trading Up 3.4%

Shares of SR opened at $78.55 on Wednesday. Spire Inc. has a 1 year low of $71.24 and a 1 year high of $95.31. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.69. The stock has a 50 day simple moving average of $85.24 and a 200-day simple moving average of $86.46. The stock has a market cap of $4.64 billion, a PE ratio of 13.80, a PEG ratio of 1.70 and a beta of 0.52.

Spire (NYSE:SR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $3.76 EPS for the quarter, topping the consensus estimate of $3.72 by $0.04. Spire had a return on equity of 9.49% and a net margin of 13.97%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $3.60 EPS. Spire's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that Spire Inc. will post 4.01 EPS for the current fiscal year.

Spire Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.2%. Spire's dividend payout ratio (DPR) is presently 58.00%.

Analyst Upgrades and Downgrades

SR has been the subject of a number of recent research reports. UBS Group cut their target price on Spire from $106.00 to $103.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Spire from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Wolfe Research started coverage on shares of Spire in a report on Tuesday, May 26th. They issued a "peer perform" rating on the stock. Wells Fargo & Company assumed coverage on shares of Spire in a research note on Monday, May 11th. They issued an "overweight" rating and a $96.00 price objective for the company. Finally, Morgan Stanley set a $96.00 price objective on shares of Spire in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.22.

Spire Company Profile

Spire Inc NYSE: SR, formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.

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