Spirax-Sarco Engineering plc (LON:SPX) Increases Dividend to GBX 114 Per Share

Spirax-Sarco Engineering plc (LON:SPX) announced a dividend on Thursday, March 7th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, April 25th will be given a dividend of GBX 114 ($1.41) per share on Friday, May 24th. This represents a dividend yield of 1.11%. The ex-dividend date is Thursday, April 25th. This is a boost from Spirax-Sarco Engineering’s previous dividend of $46.00. The official announcement can be seen at this link.

Spirax-Sarco Engineering Stock Down 0.6 %

SPX opened at GBX 9,285 ($114.69) on Wednesday. Spirax-Sarco Engineering has a 1-year low of GBX 7,900 ($97.58) and a 1-year high of £116.90 ($144.39). The stock’s fifty day simple moving average is £101.24 and its 200 day simple moving average is GBX 9,639.96. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 97.01. The stock has a market cap of £6.84 billion, a PE ratio of 3,753.01, a price-to-earnings-growth ratio of 6.66 and a beta of 0.69.

Insider Buying and Selling

In related news, insider Nimesh Patel sold 660 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of £105.27 ($130.03), for a total value of £69,478.20 ($85,817.93). 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPX shares. Bank of America restated a “buy” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, April 11th. Numis Securities restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, March 7th. Barclays decreased their price target on Spirax-Sarco Engineering from £105.80 ($130.68) to GBX 9,960 ($123.02) and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Berenberg Bank raised their price objective on Spirax-Sarco Engineering from GBX 8,800 ($108.70) to GBX 9,800 ($121.05) and gave the company a “hold” rating in a research note on Friday, March 8th. Finally, Jefferies Financial Group raised Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($120.31) price target on the stock in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of £101.50 ($125.37).

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including pumps, tubing, and specialty filling systems and products for single-use applications.