Spirax-Sarco Engineering plc (LON:SPX) Raises Dividend to GBX 117.50 Per Share

Spirax-Sarco Engineering plc (LON:SPX) announced a dividend on Tuesday, March 11th, DividendData.Co.Uk reports. Shareholders of record on Thursday, April 24th will be paid a dividend of GBX 117.50 ($1.57) per share on Friday, May 23rd. This represents a yield of 1.7%. The ex-dividend date is Thursday, April 24th. This is a 147.4% increase from Spirax-Sarco Engineering’s previous dividend of $47.50. The official announcement can be seen at this link.

Spirax-Sarco Engineering Stock Performance

Shares of Spirax-Sarco Engineering stock opened at GBX 5,770 ($77.21) on Tuesday. The company has a market cap of £4.25 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The business has a 50 day moving average price of GBX 6,704.91 and a 200-day moving average price of GBX 6,925.03. Spirax-Sarco Engineering has a 52 week low of GBX 5,380 ($71.99) and a 52 week high of GBX 9,850 ($131.81). The company has a quick ratio of 1.73, a current ratio of 2.25 and a debt-to-equity ratio of 98.85.

Spirax-Sarco Engineering (LON:SPX) last issued its quarterly earnings results on Tuesday, March 11th. The company reported GBX 286.30 ($3.83) earnings per share for the quarter. Spirax-Sarco Engineering had a net margin of 11.57% and a return on equity of 16.58%. Equities analysts anticipate that Spirax-Sarco Engineering will post 334.5410628 earnings per share for the current fiscal year.

Insider Transactions at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Nimesh Patel sold 697 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of GBX 6,723 ($89.96), for a total transaction of £46,859.31 ($62,704.82). Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

SPX has been the topic of several research reports. Citigroup restated a “buy” rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on shares of Spirax-Sarco Engineering from GBX 7,800 ($104.38) to GBX 7,700 ($103.04) and set a “neutral” rating on the stock in a research note 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of GBX 8,107.50 ($108.49).

Spirax-Sarco Engineering Company Profile

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.