Dimensional Fund Advisors LP increased its stake in shares of Southern Co. (NYSE:SO) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,454,064 shares of the company’s stock after buying an additional 53,801 shares during the period. Dimensional Fund Advisors LP owned 0.15% of Southern worth $77,962,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. PacWest Financial Management Inc bought a new position in Southern during the first quarter valued at about $1,310,000. Duncker Streett & Co. Inc. boosted its position in Southern by 15.9% in the first quarter. Duncker Streett & Co. Inc. now owns 14,374 shares of the company’s stock valued at $743,000 after buying an additional 1,970 shares during the period. Quantitative Systematic Strategies LLC boosted its position in Southern by 127.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 14,735 shares of the company’s stock valued at $755,000 after buying an additional 8,244 shares during the period. PGGM Investments boosted its position in Southern by 2.2% in the first quarter. PGGM Investments now owns 1,968,318 shares of the company’s stock valued at $101,821,000 after buying an additional 41,503 shares during the period. Finally, Bridges Investment Management Inc. boosted its position in Southern by 6.8% in the first quarter. Bridges Investment Management Inc. now owns 11,052 shares of the company’s stock valued at $464,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 48.64% of the company’s stock.
Southern Co. (NYSE:SO) traded down 0.17% during midday trading on Monday, reaching $53.44. 1,474,686 shares of the company’s stock were exchanged. Southern Co. has a 1-year low of $43.38 and a 1-year high of $54.64. The stock has a market cap of $50.32 billion, a P/E ratio of 21.21 and a beta of 0.05. The firm’s 50-day moving average is $51.98 and its 200 day moving average is $51.32.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Southern had a net margin of 13.77% and a return on equity of 12.50%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Southern Co. will post $2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 11th. Southern’s dividend payout ratio (DPR) is currently 87.50%.
A number of brokerages recently weighed in on SO. Mizuho restated a “hold” rating and set a $50.00 target price on shares of Southern in a report on Monday, July 11th. Jefferies Group restated a “hold” rating on shares of Southern in a report on Monday, July 11th. SunTrust Banks Inc. restated a “hold” rating and set a $54.00 target price on shares of Southern in a report on Monday. Goldman Sachs Group Inc. restated a “neutral” rating and set a $54.00 target price on shares of Southern in a report on Thursday, July 14th. Finally, Barclays PLC upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $62.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $52.59.
In other news, insider Ann P. Daiss sold 7,000 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $53.28, for a total value of $372,960.00. Following the transaction, the insider now directly owns 9,394 shares of the company’s stock, valued at $500,512.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stan W. Connally sold 14,392 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $53.75, for a total transaction of $773,570.00. Following the completion of the transaction, the chief executive officer now directly owns 17,716 shares in the company, valued at $952,235. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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