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 on Monday, March 24th. The stock was sold at an average price of GBX 6,723 ($87.02), for a total transaction of £46,859.31 ($60,651.45).

Spirax-Sarco Engineering Trading Down 2.5 %

SPX stock opened at GBX 6,405 ($82.90) on Friday. Spirax-Sarco Engineering plc has a 1-year low of GBX 6,350 ($82.19) and a 1-year high of £101.40 ($131.25). The company has a current ratio of 2.25, a quick ratio of 1.73 and a debt-to-equity ratio of 98.85. The business’s 50 day moving average is GBX 7,404.98 and its 200-day moving average is GBX 7,116.08. The firm has a market cap 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 (LON:SPX) last announced its quarterly earnings results on Tuesday, March 11th. The company reported GBX 286.30 ($3.71) earnings per share 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 earnings per share for the current fiscal year.

Spirax-Sarco Engineering Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of GBX 117.50 ($1.52) per share. This represents a dividend yield of 1.7%. The ex-dividend date is Thursday, April 24th. This is a boost from Spirax-Sarco Engineering’s previous dividend of $47.50. Spirax-Sarco Engineering’s dividend payout ratio is presently 62.13%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPX. Citigroup reiterated a “buy” rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 12th. JPMorgan Chase & Co. reduced their price objective on 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 report on Wednesday, March 12th. Finally, Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.