American Century Investment Manag recently announced the acquisition of new stake in Spire Inc. (NYSE:SR). The institutional investor has increased its shareholding in the Utilities company by 0.76% to 6.97 million shares with purchase of 52893.0 shares. This fresh investment now brings its stake to 13.10% valued currently at $425.12 million. In addition, The Vanguard Group, Inc. raised its holdings by 36517.0 to 5.47 million shares. And Fuller & Thaler Asset Management, has lifted its position by 125.96% or 1.95 million shares – to 3.5 million shares.
With over 0.46 million Spire Inc. (SR) shares trading Friday and a closing price of $63.78 on the day, the dollar volume was approximately $29.34 million. The shares have shown a positive half year performance of 1.27% and its price on 12/22/23 gained nearly 1.25%. Currently, there are 53.17M common shares owned by the public and among those 51.66M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for SR have a consensus price objective of $62.50. The analysts have set the share’s price value over the next 12 months at a high of $66.00 and a low of $55.00. The average price target is -2.05% below its recent price level and a downside to the estimated low will see the stock lose -15.96% over that period. But an upside of 3.36% will see the stock hit the forecast high price target while median target price for the stock is $64.00.
Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 13,622 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 2,203 shares.
The top 3 mutual fund holders in Spire Inc. are Undiscovered Managers Behavioral, American Century Cap. Port. Inc., and American Century Mid Cap Value Fu. Undiscovered Managers Behavioral owns 3.08 million shares of the company’s stock, all valued at over $187.74 million. The company bought an additional 0.21 million shares recently to bring their total holdings to about 5.79% of the shares outstanding. American Century Cap. Port. Inc. sold 50572.0 shares to see its total holdings shrink to 2.6 million shares valued at over $158.58 million and representing 4.89% of the shares outstanding. American Century Mid Cap Value Fu bought 78553.0 shares to bring its total holdings to over 2.59 million shares at a value of $157.96 million. American Century Mid Cap Value Fu now owns shares totaling to 4.87% of the shares outstanding.
Shares of Spire Inc. (NYSE: SR) opened at $63.24, up $0.25 from a prior closing price of $62.99. The company’s stock has a 5-day price change of 1.35% and 8.95% over the past three months. SR shares are trading -7.38% year to date (YTD), with the 12-month market performance down to -6.67% lower. It has a 12-month low price of $53.77 and touched a high of $75.83 over the same period. SR has an average intraday trading volume of 390.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.75%, 6.66%, and 1.23% respectively.
Institutional ownership of Spire Inc. (NYSE: SR) shares accounts for 91.73% of the company’s 53.17M shares outstanding. Mutual fund holders own 3.03%, while other institutional holders and individual stakeholders account for 64.32% and 27.95% respectively.
It has a market capitalization of $3.40B and a beta (3y monthly) value of 0.54. The stock’s trailing 12-month PE ratio is 16.58, while the earnings-per-share (ttm) stands at $3.85. The company has a PEG of 2.61 and a Quick Ratio of 0.45 with the debt-to-equity ratio at 1.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.92% over the week and 2.08% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 6.74%, and 5.36% over the next financial year. EPS should grow at an annualized rate of 6.36% over the next five years, compared to -2.35% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Spire Inc. (SR) as a “Moderate Buy” at a consensus score of 2.88. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SR, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on September 29, 2023, with the firm’s price target at $71-$66.
