Nimesh Patel Sells 697 Shares of Spirax-Sarco Engineering plc (LON:SPX) Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel sold 697 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of GBX 6,723 ($86.56), for a total transaction of £46,859.31 ($60,331.29).

Spirax-Sarco Engineering Stock Down 1.4 %

LON:SPX traded down GBX 90 ($1.16) during mid-day trading on Thursday, reaching GBX 6,570 ($84.59). The stock had a trading volume of 48,442,293 shares, compared to its average volume of 2,070,958. The company has a debt-to-equity ratio of 98.85, a current ratio of 2.25 and a quick ratio of 1.73. The company has a market capitalization of £4.84 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. Spirax-Sarco Engineering plc has a 1-year low of GBX 6,350 ($81.76) and a 1-year high of £101.40 ($130.55). The stock’s 50 day simple moving average is GBX 7,429.38 and its two-hundred day simple moving average is GBX 7,135.06.

Spirax-Sarco Engineering (LON:SPX) last issued its earnings results on Tuesday, March 11th. The company reported GBX 286.30 ($3.69) EPS for the quarter. Spirax-Sarco Engineering had a return on equity of 16.58% and a net margin of 11.57%. Equities analysts anticipate that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current year.

Spirax-Sarco Engineering Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of GBX 117.50 ($1.51) per share. This represents a dividend yield of 1.7%. This is a boost from Spirax-Sarco Engineering’s previous dividend of $47.50. The ex-dividend date is Thursday, April 24th. Spirax-Sarco Engineering’s dividend payout ratio is 62.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SPX shares. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on Spirax-Sarco Engineering from GBX 7,800 ($100.42) to GBX 7,700 ($99.14) and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, Citigroup reissued a “buy” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of GBX 8,478 ($109.15).

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today.