Spirax-Sarco Engineering plc (LON:SPX) Announces Dividend Increase – 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 of this dividend is Thursday, April 25th. This is an increase from Spirax-Sarco Engineering’s previous dividend of $46.00. The official announcement can be viewed at this link.

Spirax-Sarco Engineering Stock Performance

SPX opened at GBX 9,275 ($114.56) on Tuesday. The stock has a market cap of £6.83 billion, a PE ratio of 3,700.80, a P/E/G ratio of 6.66 and a beta of 0.69. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 97.01. 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 50 day simple moving average is £101.24 and its 200-day simple moving average is GBX 9,639.96.

Insiders Place Their Bets

In other news, insider Nimesh Patel sold 660 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of £105.27 ($130.03), for a total transaction of £69,478.20 ($85,817.93). Insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPX. Bank of America reaffirmed a “buy” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, April 11th. 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. Berenberg Bank boosted their price objective on Spirax-Sarco Engineering from GBX 8,800 ($108.70) to GBX 9,800 ($121.05) and gave the stock a “hold” rating in a research note on Friday, March 8th. Numis Securities reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 7th. Finally, Barclays reduced their price objective 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 note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of £101.50 ($125.37).

Spirax-Sarco Engineering Company Profile

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.