Insider Selling: Spire Inc. (NYSE:SR) Treasurer Sells $77,590.50 in Stock

Spire Inc. (NYSE:SR) Treasurer Adam W. Woodard sold 1,150 shares of the firm’s 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 completion of the sale, the treasurer now directly owns 2,587 shares of the company’s stock, 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 at the SEC website.

Spire Trading Down 5.6 %

Shares of SR stock opened at $64.46 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.30 and a current ratio of 0.45. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 3.04 and a beta of 0.57. Spire Inc. has a 52-week low of $56.36 and a 52-week high of $73.64. The company has a 50-day simple moving average of $67.39 and a two-hundred day simple moving average of $65.00.

Spire Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 11th will be issued a $3.14 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from Spire’s previous quarterly dividend of $0.76. This represents a $12.56 annualized dividend and a dividend yield of 19.48%. Spire’s dividend payout ratio is currently 72.85%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Spire from a “hold” rating to a “sell” rating in a research report on Friday, November 29th. Mizuho lifted their price objective on shares of Spire from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Bank of America initiated coverage on shares of Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 target price for the company. Morgan Stanley dropped their price target on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Company boosted their price objective on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Two equities 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.28.

Institutional Trading of Spire

A number of institutional investors and hedge funds have recently modified their holdings of SR. Janney Montgomery Scott LLC bought a new position in Spire in the 3rd quarter valued at $787,000. Cynosure Group LLC purchased a new position in shares of Spire in the 3rd quarter worth about $4,067,000. Allspring Global Investments Holdings LLC grew its position in Spire by 116.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider’s stock valued at $1,886,000 after buying an additional 15,060 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in Spire by 12.4% during the second quarter. Thompson Siegel & Walmsley LLC now owns 288,339 shares of the utilities provider’s stock worth $17,511,000 after buying an additional 31,923 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Spire by 11.0% in the second 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 period. 87.36% of the stock is owned by hedge funds and other institutional investors.

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.