Savant Capital LLC raised its position in shares of Southern Co. (NYSE:SO) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,930 shares of the company’s stock after buying an additional 34 shares during the period. Savant Capital LLC’s holdings in Southern were worth $693,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of SO. Montrusco Bolton Investments Inc. boosted its position in Southern by 0.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 3,880 shares of the company’s stock worth $208,000 after buying an additional 20 shares during the last quarter. Zions Bancorporation boosted its position in Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock worth $132,000 after buying an additional 32 shares during the last quarter. MAI Capital Management boosted its position in Southern by 1.1% in the second quarter. MAI Capital Management now owns 4,234 shares of the company’s stock worth $227,000 after buying an additional 47 shares during the last quarter. Investment House LLC boosted its position in Southern by 1.0% in the second quarter. Investment House LLC now owns 5,562 shares of the company’s stock worth $298,000 after buying an additional 56 shares during the last quarter. Finally, Strategic Advisors LLC boosted its position in Southern by 0.7% in the second quarter. Strategic Advisors LLC now owns 7,930 shares of the company’s stock worth $425,000 after buying an additional 58 shares during the last quarter. 48.64% of the stock is owned by hedge funds and other institutional investors.
Southern Co. (NYSE:SO) traded down 0.18% during mid-day trading on Thursday, reaching $49.43. The company’s stock had a trading volume of 6,087,039 shares. The firm has a 50 day moving average price of $51.81 and a 200 day moving average price of $51.41. Southern Co. has a 52-week low of $43.38 and a 52-week high of $54.64. The company has a market cap of $46.54 billion, a price-to-earnings ratio of 19.62 and a beta of 0.08.
Southern (NYSE:SO) last posted its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The company 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%. Southern’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. Equities research analysts anticipate that Southern Co. will post $2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were issued a dividend of $0.56 per share. The ex-dividend date was Thursday, August 11th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.53%. Southern’s dividend payout ratio is currently 87.50%.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 27th. SunTrust Banks Inc. upped their price objective on Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, September 26th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research report on Thursday, August 4th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $54.00 price objective on shares of Southern in a research report on Thursday, July 14th. Finally, Barclays PLC raised Southern from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $62.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $53.50.
In other news, CEO Mark A. Crosswhite sold 167,273 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.30, for a total transaction of $8,915,650.90. Following the completion of the sale, the chief executive officer now directly owns 171,983 shares in the company, valued at $9,166,693.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christopher C. Womack sold 46,008 shares of the 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 transaction, 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. 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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