Bartlett & Co. LLC increased its stake in Southern Co. (NYSE:SO) by 24.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,224 shares of the company’s stock after buying an additional 1,014 shares during the period. Bartlett & Co. LLC’s holdings in Southern were worth $280,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. First Dallas Securities Inc. boosted 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 valued at $875,000 after buying an additional 715 shares in the last quarter. Home Federal Bank of Tennessee boosted 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 valued at $1,267,000 after buying an additional 60 shares in the last quarter. Hilton Capital Management LLC bought a new stake in Southern during the second quarter valued at approximately $10,962,000. Aviance Capital Management LLC boosted its stake in Southern by 23.7% in the second quarter. Aviance Capital Management LLC now owns 568,028 shares of the company’s stock valued at $30,463,000 after buying an additional 108,821 shares in the last quarter. Finally, Seminole Management Co. Inc. bought a new stake in Southern during the second quarter valued at approximately $778,000. 48.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Southern Co. (NYSE:SO) traded down 1.44% during mid-day trading on Friday, hitting $51.30. 7,048,679 shares of the stock were exchanged. 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. The stock has a market cap of $48.30 billion, a PE ratio of 20.37 and a beta of 0.05.
Southern (NYSE:SO) last issued its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The firm earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, analysts anticipate that Southern Co. will post $2.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 15th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Thursday, August 11th. Southern’s dividend payout ratio (DPR) is presently 87.50%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of 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. SunTrust Banks Inc. increased their price target on shares of Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Group reiterated a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $54.00 price target on shares of Southern in a research note on Thursday, July 14th. Finally, Barclays PLC upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $62.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.50.
In related news, CEO Mark A. Crosswhite sold 167,273 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.30, for a total value of $8,915,650.90. Following the completion of the sale, the chief executive officer now directly owns 171,983 shares of the company’s stock, valued at $9,166,693.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the completion of the sale, the executive vice president now directly owns 56,149 shares of the company’s stock, valued at $2,998,356.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate 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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