Spirax-Sarco Engineering plc (SPX) to Issue Dividend of GBX 114 on May 24th

Spirax-Sarco Engineering plc (LON:SPX) declared a dividend on Thursday, March 7th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, April 25th will be paid a dividend of GBX 114 ($1.41) per share on Friday, May 24th. This represents a yield of 1.11%. The ex-dividend date of this dividend is Thursday, April 25th. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $46.00. The official announcement can be accessed at this link.

Spirax-Sarco Engineering Stock Performance

Shares of SPX opened at GBX 9,275 ($114.56) on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 97.01. The stock has a market cap of £6.83 billion, a P/E ratio of 3,700.80, a PEG ratio of 6.66 and a beta of 0.69. The company has a 50-day moving average of £101.24 and a two-hundred day moving average of GBX 9,639.96. Spirax-Sarco Engineering has a 12-month low of GBX 7,900 ($97.58) and a 12-month high of £116.90 ($144.39).

Analyst Ratings Changes

A number of brokerages have issued reports on SPX. Bank of America restated a “buy” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, April 11th. Barclays cut their target price on shares of Spirax-Sarco Engineering from £105.80 ($130.68) to GBX 9,960 ($123.02) and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Jefferies Financial Group upgraded shares of Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($120.31) target price for the company in a research report on Wednesday, January 31st. Berenberg Bank boosted their price objective on shares of Spirax-Sarco Engineering from GBX 8,800 ($108.70) to GBX 9,800 ($121.05) and gave the company a “hold” rating in a research report on Friday, March 8th. Finally, Numis Securities reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Spirax-Sarco Engineering presently has a consensus rating of “Hold” and an average price target of £101.50 ($125.37).

Insider Buying and Selling

In related news, insider Nimesh Patel sold 660 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of £105.27 ($130.03), for a total transaction of £69,478.20 ($85,817.93). 0.98% of the stock is currently owned by company insiders.

About Spirax-Sarco Engineering

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.