Retirement Systems of Alabama Sells 1,124 Shares of Spire Inc. (NYSE:SR)

Retirement Systems of Alabama decreased its position in Spire Inc. (NYSE:SR) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,150 shares of the utilities provider’s stock after selling 1,124 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Spire worth $4,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SR. Meeder Asset Management Inc. purchased a new stake in shares of Spire in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Spire in the second quarter worth $31,000. Larson Financial Group LLC grew its stake in shares of Spire by 1,318.4% in the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 501 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Spire by 26.8% during the second quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 161 shares in the last quarter. Finally, Missouri Trust & Investment Co raised its position in shares of Spire by 28.6% in the 3rd quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SR shares. UBS Group increased 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. Mizuho raised their price target on shares of Spire from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Stifel Nicolaus decreased their price objective on shares of Spire from $70.00 to $69.00 and set a “hold” rating for the company in a report on Friday, November 22nd. Bank of America assumed coverage on Spire in a research note on Friday, December 13th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.28.

Insiders Place Their Bets

In related news, Director Paul D. Koonce acquired 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 purchase, the director now owns 2,425 shares in the company, valued at $178,504.25. The trade was a 70.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $77,590.50. Following the sale, the treasurer now owns 2,587 shares in the company, valued at approximately $174,544.89. The trade was a 30.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.86% of the company’s stock.

Spire Trading Up 1.7 %

Spire stock opened at $65.55 on Friday. The business has a 50-day simple moving average of $67.42 and a two-hundred day simple moving average of $65.00. Spire Inc. has a 52-week low of $56.36 and a 52-week high of $73.64. 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 company has a market cap of $3.79 billion, a P/E ratio of 15.21, a P/E/G ratio of 3.04 and a beta of 0.57.

Spire Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $3.14 per share. This is a boost from Spire’s previous quarterly dividend of $0.76. This represents a $12.56 dividend on an annualized basis and a yield of 19.16%. The ex-dividend date is Wednesday, December 11th. Spire’s dividend payout ratio is currently 72.85%.

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.