Convergence Investment Partners LLC Buys New Stake in Spire Inc. (NYSE:SR)

Convergence Investment Partners LLC acquired a new position in shares of Spire Inc. (NYSE:SR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,322 shares of the utilities provider's stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SR. Meeder Asset Management Inc. acquired a new position in Spire during the third quarter worth $25,000. Golden State Wealth Management LLC purchased a new stake in Spire during the fourth quarter worth $27,000. GAMMA Investing LLC boosted its position in Spire by 87.2% during the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider's stock worth $30,000 after purchasing an additional 204 shares in the last quarter. Larson Financial Group LLC boosted its position in Spire by 1,318.4% during the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider's stock worth $36,000 after purchasing an additional 501 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Spire during the fourth quarter worth $37,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Insider Buying and Selling at Spire

In related news, Treasurer Adam W. Woodard sold 1,150 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $67.47, for a total value of $77,590.50. Following the sale, the treasurer now owns 2,587 shares of the company's stock, valued at approximately $174,544.89. This trade represents a 30.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul D. Koonce purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average cost of $73.61 per share, for a total transaction of $73,610.00. Following the acquisition, the director now owns 2,425 shares in the company, valued at approximately $178,504.25. The trade was a 70.18 % increase in their position. The disclosure for this purchase can be found here. 2.33% of the stock is owned by insiders.

Spire Price Performance

Shares of NYSE:SR traded up $1.17 on Friday, hitting $75.11. The company had a trading volume of 454,867 shares, compared to its average volume of 376,523. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21. Spire Inc. has a 52-week low of $57.27 and a 52-week high of $75.70. The business has a 50 day moving average of $69.46 and a 200 day moving average of $67.48. The company has a market cap of $4.38 billion, a PE ratio of 18.19, a PEG ratio of 2.82 and a beta of 0.58.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. As a group, equities analysts anticipate that Spire Inc. will post 4.5 earnings per share for the current fiscal year.

Spire Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 11th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.18%. Spire's dividend payout ratio (DPR) is currently 76.03%.

Analysts Set New Price Targets

A number of analysts have commented on SR shares. Bank of America started coverage on Spire in a research report on Friday, December 13th. They set a "neutral" rating and a $70.00 target price on the stock. UBS Group boosted their target price on Spire from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Mizuho upgraded Spire from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $65.00 to $76.00 in a research report on Friday, December 20th. Wells Fargo & Company boosted their target price on Spire from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. Finally, StockNews.com downgraded Spire from a "hold" rating to a "sell" rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spire currently has a consensus rating of "Hold" and a consensus price target of $71.50.

Spire Company Profile

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.