Franklin Resources Inc. Lowers Holdings in Spire Inc. (NYSE:SR)

Franklin Resources Inc. decreased its holdings in Spire Inc. (NYSE:SR - Free Report) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 724,596 shares of the utilities provider's stock after selling 7,920 shares during the period. Franklin Resources Inc. owned 1.25% of Spire worth $47,287,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SR. State Street Corp lifted its stake in Spire by 1.4% in the 3rd quarter. State Street Corp now owns 3,154,230 shares of the utilities provider's stock worth $214,535,000 after purchasing an additional 44,969 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Spire by 5.5% in the third quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider's stock worth $93,244,000 after buying an additional 71,798 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Spire by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 944,387 shares of the utilities provider's stock valued at $57,351,000 after buying an additional 72,119 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Spire by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 805,932 shares of the utilities provider's stock valued at $54,231,000 after buying an additional 36,214 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Spire by 11.0% in the 2nd quarter. Victory Capital Management Inc. now owns 698,819 shares of the utilities provider's stock worth $42,439,000 after acquiring an additional 69,020 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Spire Stock Performance

Shares of Spire stock opened at $68.31 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The stock's fifty day moving average is $67.39 and its two-hundred day moving average is $65.00. Spire Inc. has a 52 week low of $56.36 and a 52 week high of $73.64. The company has a market capitalization of $3.95 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57.

Spire Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be paid a $3.14 dividend. This represents a $12.56 annualized dividend and a yield of 18.39%. The ex-dividend date is Wednesday, December 11th. This is an increase from Spire's previous quarterly dividend of $0.76. Spire's dividend payout ratio (DPR) is currently 72.85%.

Insider Activity at Spire

In other news, Treasurer Adam W. Woodard sold 1,150 shares of Spire stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the transaction, the treasurer now owns 2,587 shares of the company's stock, valued at $174,544.89. The trade was a 30.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Koonce purchased 1,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were acquired at an average price of $73.61 per share, for a total transaction of $73,610.00. Following the purchase, the director now directly owns 2,425 shares of the company's stock, 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. 2.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SR shares. Wells Fargo & Company raised their target price on shares of Spire from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Bank of America assumed coverage on shares of Spire in a research report on Friday, December 13th. They set a "neutral" rating and a $70.00 target price on the stock. Stifel Nicolaus reduced their price objective on Spire from $70.00 to $69.00 and set a "hold" rating on the stock in a research note on Friday, November 22nd. Mizuho raised their price objective on Spire from $62.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Finally, LADENBURG THALM/SH SH cut Spire from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $65.50 to $60.50 in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $70.28.

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.