Spirax-Sarco Engineering plc (LON:SPX) Insider Sells £46,859.31 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel sold 697 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of GBX 6,723 ($87.02), for a total value of £46,859.31 ($60,651.45).

Spirax-Sarco Engineering Stock Down 2.5 %

SPX stock opened at GBX 6,405 ($82.90) on Friday. 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 firm has a market capitalization of £4.72 billion, a P/E ratio of 24.57, a P/E/G ratio of 2.20 and a beta of 0.68. Spirax-Sarco Engineering plc has a 52-week low of GBX 6,350 ($82.19) and a 52-week high of £101.40 ($131.25). The company’s 50 day simple moving average is GBX 7,404.98 and its 200-day simple moving average is GBX 7,120.13.

Spirax-Sarco Engineering (LON:SPX) last announced its earnings results on Tuesday, March 11th. The company reported GBX 286.30 ($3.71) earnings per share (EPS) for the quarter. Spirax-Sarco Engineering had a net margin of 11.57% and a return on equity of 16.58%. As a group, equities research 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 disclosed a dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a GBX 117.50 ($1.52) dividend. This is an increase from Spirax-Sarco Engineering’s previous dividend of $47.50. This represents a yield of 1.7%. The ex-dividend date is Thursday, April 24th. Spirax-Sarco Engineering’s dividend payout ratio is currently 62.13%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPX. Shore Capital reissued a “sell” rating on shares of Spirax-Sarco Engineering in a report on Tuesday, March 11th. JPMorgan Chase & Co. cut their target price on shares of Spirax-Sarco Engineering from GBX 7,800 ($100.96) to GBX 7,700 ($99.66) and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Finally, Citigroup restated a “buy” rating on shares of Spirax-Sarco Engineering in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 8,478 ($109.73).

About Spirax-Sarco Engineering

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.