First Midwest Bank Trust Division boosted its stake in shares of Southern Co. (NYSE:SO) by 8.8% during the second quarter, Holdings Channel reports. The firm owned 39,037 shares of the company’s stock after buying an additional 3,156 shares during the period. First Midwest Bank Trust Division’s holdings in Southern were worth $2,093,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in Southern by 17.4% in the second quarter. Alps Advisors Inc. now owns 515,011 shares of the company’s stock valued at $27,620,000 after buying an additional 76,306 shares during the period. Bartlett & Co. LLC increased its stake in Southern by 24.1% in the second quarter. Bartlett & Co. LLC now owns 5,224 shares of the company’s stock worth $280,000 after buying an additional 1,014 shares during the last quarter. First Dallas Securities Inc. increased its stake in Southern by 4.6% in the second quarter. First Dallas Securities Inc. now owns 16,315 shares of the company’s stock worth $875,000 after buying an additional 715 shares during the last quarter. Home Federal Bank of Tennessee increased its stake in Southern by 0.3% in the second quarter. Home Federal Bank of Tennessee now owns 23,624 shares of the company’s stock worth $1,267,000 after buying an additional 60 shares during the last quarter. Finally, Hilton Capital Management LLC bought a new stake in Southern during the second quarter worth $10,962,000. Institutional investors and hedge funds own 48.64% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded down 1.44% during trading on Friday, reaching $51.30. The company’s stock had a trading volume of 7,048,679 shares. The stock has a market cap of $48.30 billion, a P/E ratio of 20.37 and a beta of 0.05. Southern Co. has a 12-month low of $43.38 and a 12-month high of $54.64. The stock’s 50-day moving average is $51.95 and its 200-day moving average is $51.42.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. Southern had a return on equity of 12.50% and a net margin of 13.77%. The firm earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Southern Co. will post $2.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Thursday, August 11th. Southern’s payout ratio is currently 87.50%.
A number of analysts have recently weighed in on the company. Jefferies Group reiterated a “hold” rating on shares of Southern in a research report on Monday, July 11th. Argus reiterated a “buy” rating on shares of Southern in a research report on Wednesday, June 15th. Mizuho reiterated a “hold” rating and set a $50.00 target price on shares of Southern in a research report on Monday, July 11th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $54.00 target price on shares of Southern in a research report on Thursday, July 14th. Finally, Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Southern presently has an average rating of “Hold” and a consensus target price of $53.50.
In other news, EVP Christopher C. Womack sold 46,008 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total value of $2,456,827.20. Following the completion of the transaction, the executive vice president now directly owns 56,149 shares of the company’s stock, valued at $2,998,356.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stan W. Connally sold 14,392 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $53.75, for a total value of $773,570.00. Following the completion of the transaction, the chief executive officer now directly owns 17,716 shares of the company’s stock, valued at $952,235. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
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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