Cardinal Capital Management increased its holdings in shares of Spire Inc. (NYSE:SR) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,461 shares of the utilities provider’s stock after buying an additional 1,475 shares during the quarter. Cardinal Capital Management’s holdings in Spire were worth $1,452,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its holdings in Spire by 3.3% in the 2nd quarter. BlackRock Inc. now owns 5,901,195 shares of the utilities provider’s stock worth $411,607,000 after purchasing an additional 188,507 shares in the last quarter. Vanguard Group Inc. increased its holdings in Spire by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,443,903 shares of the utilities provider’s stock worth $309,962,000 after purchasing an additional 224,903 shares in the last quarter. American Century Companies Inc. increased its holdings in Spire by 124.9% in the 2nd quarter. American Century Companies Inc. now owns 3,475,470 shares of the utilities provider’s stock worth $242,414,000 after purchasing an additional 1,930,140 shares in the last quarter. State Street Corp increased its holdings in Spire by 5.7% in the 2nd quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock worth $86,214,000 after purchasing an additional 67,106 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Spire by 13.2% in the second quarter. Northern Trust Corp now owns 1,051,175 shares of the utilities provider’s stock valued at $73,319,000 after buying an additional 122,444 shares during the period. Institutional investors and hedge funds own 79.53% of the company’s stock.
Spire Inc. (NYSE:SR) traded down $0.45 during midday trading on Friday, reaching $77.85. The company had a trading volume of 112,000 shares, compared to its average volume of 186,697. The firm has a market capitalization of $3,778.92, a PE ratio of 22.12, a P/E/G ratio of 3.97 and a beta of 0.30. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 0.95. Spire Inc. has a fifty-two week low of $61.40 and a fifty-two week high of $79.60.
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Several brokerages have recently weighed in on SR. Royal Bank of Canada reissued a “hold” rating and issued a $73.00 price target on shares of Spire in a research note on Wednesday, August 9th. Zacks Investment Research raised Spire from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, October 4th. Morgan Stanley increased their price target on Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co increased their price target on Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $71.00 target price on shares of Spire in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $74.33.
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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