Laclede Group SVP Michael R. Spotanski Sells 2,000 Shares (LG)
Laclede Group (NYSE:LG) SVP Michael R. Spotanski unloaded 2,000 shares of the company’s stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $49.00, for a total value of $98,000.00. Following the sale, the senior vice president now directly owns 28,048 shares in the company, valued at approximately $1,374,352. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Laclede Group (NYSE:LG) traded down 0.18% on Tuesday, hitting $49.07. 58,421 shares of the company’s stock traded hands. Laclede Group has a 52-week low of $42.84 and a 52-week high of $49.38. The stock has a 50-day moving average of $47.90 and a 200-day moving average of $46.82. The company has a market cap of $2.118 billion and a P/E ratio of 18.25.
Laclede Group (NYSE:LG) last announced its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.08. The company had revenue of $241.80 million for the quarter, compared to the consensus estimate of $310.20 million. During the same quarter last year, the company posted $0.36 earnings per share. Analysts expect that Laclede Group will post $3.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Tuesday, September 9th.
A number of research firms have recently commented on LG. Analysts at Zacks downgraded shares of Laclede Group from an “outperform” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $52.00 price target on the stock. Analysts at Hilliard Lyons upgraded shares of Laclede Group from a “neutral” rating to a “buy” rating in a research note on Monday, June 16th.
The Laclede Group, Inc (NYSE:LG) is a utility holding company.
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