Kingsview Wealth Management LLC Makes New $3.13 Million Investment in Spire Inc. (NYSE:SR)

Kingsview Wealth Management LLC acquired a new stake in shares of Spire Inc. (NYSE:SR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 46,177 shares of the utilities provider’s stock, valued at approximately $3,132,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in Spire during the third quarter valued at about $25,000. Golden State Wealth Management LLC acquired a new position in shares of Spire in the 4th quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in shares of Spire by 87.2% during the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 204 shares during the period. Larson Financial Group LLC increased its position in Spire by 1,318.4% during the 3rd 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 position in Spire in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insider Buying and Selling

In related news, Treasurer Adam W. Woodard sold 1,150 shares of Spire stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the sale, the treasurer now directly owns 2,587 shares in the company, valued at $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 available through this hyperlink. Also, Director Paul D. Koonce bought 1,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of $73.61 per share, with a total value of $73,610.00. Following the transaction, 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 disclosure for this purchase can be found here. Company insiders own 2.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SR shares. UBS Group boosted their price objective on shares of Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. StockNews.com raised shares of Spire from a “sell” rating to a “hold” rating in a research report on Thursday. Janney Montgomery Scott started coverage on Spire in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price objective on the stock. Morgan Stanley decreased their target price on Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, LADENBURG THALM/SH SH downgraded Spire from a “neutral” rating to a “sell” rating and dropped their target price for the company from $65.50 to $60.50 in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.50.

Spire Price Performance

Shares of NYSE SR opened at $71.31 on Monday. The business has a 50 day simple moving average of $68.89 and a 200-day simple moving average of $67.06. Spire Inc. has a twelve month low of $56.99 and a twelve month high of $73.64. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.76 and a beta of 0.58. The company has a current ratio of 0.50, a quick ratio of 0.30 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Spire Inc. will post 4.51 earnings per share for the current year.

Spire Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Tuesday, March 11th. Spire’s payout ratio is 76.03%.

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.