Geode Capital Management LLC Buys 71,798 Shares of Spire Inc. (NYSE:SR)

Geode Capital Management LLC lifted its holdings in Spire Inc. (NYSE:SR - Free Report) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,385,452 shares of the utilities provider's stock after acquiring an additional 71,798 shares during the period. Geode Capital Management LLC owned approximately 2.40% of Spire worth $93,244,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in Spire during the 3rd quarter worth $25,000. International Assets Investment Management LLC bought a new position in shares of Spire in the second quarter worth $31,000. Larson Financial Group LLC raised its stake in Spire by 1,318.4% in the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 501 shares in the last quarter. Blue Trust Inc. lifted its position in Spire by 26.8% during the second quarter. Blue Trust Inc. now owns 761 shares of the utilities provider's stock worth $47,000 after purchasing an additional 161 shares during the period. Finally, Missouri Trust & Investment Co grew its stake in Spire by 28.6% during the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider's stock worth $61,000 after buying an additional 200 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Insider Activity

In related news, Treasurer Adam W. Woodard sold 1,150 shares of the business's stock in a transaction 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 in the company, valued at $174,544.89. The trade was a 30.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul D. Koonce purchased 1,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of $73.61 per share, with a total value of $73,610.00. Following the completion of the acquisition, the director now owns 2,425 shares in the company, valued at approximately $178,504.25. This trade represents a 70.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.86% of the company's stock.

Spire Price Performance

SR stock traded up $1.14 during midday trading on Friday, reaching $66.69. 1,308,417 shares of the stock were exchanged, compared to its average volume of 413,476. Spire Inc. has a 52 week low of $56.36 and a 52 week high of $73.64. The company has a fifty day moving average price of $67.46 and a 200 day moving average price of $65.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.30. The stock has a market capitalization of $3.85 billion, a PE ratio of 15.47, a P/E/G ratio of 3.04 and a beta of 0.57.

Spire Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $3.14 per share. This represents a $12.56 dividend on an annualized basis and a dividend yield of 18.83%. The ex-dividend date is Wednesday, December 11th. This is a positive change from Spire's previous quarterly dividend of $0.76. Spire's payout ratio is 72.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SR shares. Bank of America began coverage on shares of Spire in a research report on Friday, December 13th. They issued a "neutral" rating and a $70.00 target price for the company. UBS Group boosted their price objective on shares of Spire from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Janney Montgomery Scott began coverage on Spire in a research note on Tuesday. They set a "neutral" rating and a $73.00 target price for the company. Stifel Nicolaus decreased their price target on Spire from $70.00 to $69.00 and set a "hold" rating on the stock in a research note on Friday, November 22nd. Finally, Morgan Stanley lowered their price target on Spire from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $71.50.

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.