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

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

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Spire in the 3rd quarter worth $25,000. International Assets Investment Management LLC purchased a new position in shares of Spire during the second quarter valued at about $31,000. Larson Financial Group LLC increased its holdings 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 purchasing an additional 501 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Spire by 26.8% in the second quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock worth $47,000 after buying an additional 161 shares in the last quarter. Finally, Missouri Trust & Investment Co boosted 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 valued at $61,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Spire Stock Performance

Spire stock opened at $65.55 on Friday. Spire Inc. has a 1-year low of $56.36 and a 1-year high of $73.64. The company’s 50-day moving average is $67.42 and its 200 day moving average is $65.00. The firm has a market capitalization of $3.79 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.30.

Spire Increases Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on SR shares. Wells Fargo & Company upped 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. StockNews.com cut shares of Spire from a “hold” rating to a “sell” rating in a research note on Friday, November 29th. LADENBURG THALM/SH SH cut shares of Spire from a “neutral” rating to a “sell” rating and decreased their target price for the company from $65.50 to $60.50 in a research report on Thursday, October 17th. Bank of America began coverage on Spire in a research report on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Mizuho upped their price objective on Spire from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $70.28.

Insider Activity at Spire

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of the business’s 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 completion of the sale, the treasurer now directly owns 2,587 shares of the company’s stock, valued at $174,544.89. The trade was a 30.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul D. Koonce bought 1,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was bought at an average price of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the purchase, the director now directly owns 2,425 shares in the company, valued at approximately $178,504.25. This represents a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.86% of the stock is owned by company insiders.

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.