Legato Capital Management LLC Sells 9,119 Shares of Spire Inc. (NYSE:SR)

Legato Capital Management LLC lessened its stake in shares of Spire Inc. (NYSE:SR - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,625 shares of the utilities provider's stock after selling 9,119 shares during the period. Legato Capital Management LLC's holdings in Spire were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC acquired a new stake in Spire during the 4th quarter worth about $3,132,000. Golden State Wealth Management LLC acquired a new position in shares of Spire in the 4th quarter valued at about $27,000. Chicago Partners Investment Group LLC increased its holdings in shares of Spire by 8.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 3,406 shares of the utilities provider's stock valued at $230,000 after purchasing an additional 271 shares during the period. R Squared Ltd acquired a new position in shares of Spire in the 4th quarter valued at about $37,000. Finally, KBC Group NV increased its holdings in shares of Spire by 48.2% in the 4th quarter. KBC Group NV now owns 2,307 shares of the utilities provider's stock valued at $156,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Spire Stock Performance

Shares of SR traded up $0.58 during mid-day trading on Friday, hitting $73.95. The company's stock had a trading volume of 899,721 shares, compared to its average volume of 368,419. Spire Inc. has a one year low of $57.27 and a one year high of $74.50. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.30 and a current ratio of 0.50. The firm has a market capitalization of $4.31 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.76 and a beta of 0.58. The stock's 50-day moving average is $69.05 and its two-hundred day moving average is $67.27.

Spire (NYSE:SR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a net margin of 9.70% and a return on equity of 7.88%. As a group, sell-side analysts anticipate that Spire Inc. will post 4.51 EPS for the current year.

Spire Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 11th will be given a $0.785 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $3.14 annualized dividend and a yield of 4.25%. Spire's dividend payout ratio (DPR) is currently 76.03%.

Insider Buying and Selling

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of Spire stock in a transaction on Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the completion of the transaction, the treasurer now directly owns 2,587 shares of the company's stock, valued at approximately $174,544.89. This trade represents a 30.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul D. Koonce acquired 1,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were bought at an average cost 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 of the company's stock, 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. 2.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SR shares. StockNews.com downgraded Spire from a "hold" rating to a "sell" rating in a report on Friday. UBS Group upped their target price on Spire from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Mizuho upgraded Spire from a "neutral" rating to an "outperform" rating and upped their target price for the company from $65.00 to $76.00 in a report on Friday, December 20th. 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 research note on Friday, November 22nd. Finally, Bank of America assumed coverage on Spire in a research note on Friday, December 13th. They issued a "neutral" rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $71.50.

Spire 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.