Community Bank of Raymore held its stake in shares of Southern Co. (NYSE:SO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,200 shares of the company’s stock at the end of the second quarter. Southern makes up 0.6% of Community Bank of Raymore’s holdings, making the stock its 24th largest position. Community Bank of Raymore’s holdings in Southern were worth $1,300,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SO. Community Bank & Trust Waco Texas boosted its stake in shares of Southern by 9.8% in the first quarter. Community Bank & Trust Waco Texas now owns 55,640 shares of the company’s stock worth $2,878,000 after buying an additional 4,985 shares during the period. Nisa Investment Advisors L.L.C. boosted its stake in shares of Southern by 3.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 172,700 shares of the company’s stock worth $8,934,000 after buying an additional 5,400 shares during the period. Virginia Retirement System purchased a new stake in shares of Southern during the first quarter worth approximately $11,507,000. IFP Advisors Inc boosted its stake in shares of Southern by 18.8% in the first quarter. IFP Advisors Inc now owns 147,339 shares of the company’s stock worth $7,622,000 after buying an additional 23,362 shares during the period. Finally, Hyman Charles D purchased a new stake in shares of Southern during the first quarter worth approximately $15,712,000. Institutional investors and hedge funds own 48.64% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded down 0.18% during mid-day trading on Thursday, reaching $49.43. The company had a trading volume of 6,087,039 shares. Southern Co. has a one year low of $43.38 and a one year high of $54.64. The company has a market capitalization of $46.54 billion, a price-to-earnings ratio of 19.62 and a beta of 0.08. The company has a 50 day moving average price of $51.81 and a 200 day moving average price of $51.41.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The business earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. Southern had a return on equity of 12.50% and a net margin of 13.77%. Southern’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. On average, analysts anticipate that Southern Co. will post $2.86 EPS for the current year.
The firm 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 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, August 11th. Southern’s payout ratio is 87.50%.
A number of equities research analysts have commented 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 note on Tuesday, September 27th. SunTrust Banks Inc. raised their price objective on Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Jefferies Group reissued a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research note on Thursday, July 14th. Finally, Barclays PLC raised Southern from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $62.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.50.
In other news, EVP Christopher C. Womack sold 46,008 shares of the stock in a transaction that occurred 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 owns 56,149 shares of the company’s stock, valued at approximately $2,998,356.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark A. Crosswhite sold 167,273 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.30, for a total value of $8,915,650.90. Following the completion of the transaction, the chief executive officer now directly owns 171,983 shares of the company’s stock, valued at approximately $9,166,693.90. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
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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