Parsec Financial Management Inc. lowered its position in Southern Co. (NYSE:SO) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,773 shares of the company’s stock after selling 150 shares during the period. Parsec Financial Management Inc.’s holdings in Southern were worth $256,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Atalanta Sosnoff Capital LLC raised its stake in shares of Southern by 3,155.2% in the second quarter. Atalanta Sosnoff Capital LLC now owns 394,526 shares of the company’s stock worth $21,159,000 after buying an additional 382,406 shares in the last quarter. Edgar Lomax Co. VA raised its stake in shares of Southern by 23.5% in the first quarter. Edgar Lomax Co. VA now owns 555,384 shares of the company’s stock worth $28,730,000 after buying an additional 105,850 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Southern by 3.5% in the second quarter. Retirement Systems of Alabama now owns 562,046 shares of the company’s stock worth $30,143,000 after buying an additional 19,074 shares in the last quarter. National Pension Service raised its stake in shares of Southern by 4.1% in the first quarter. National Pension Service now owns 492,733 shares of the company’s stock worth $25,489,000 after buying an additional 19,548 shares in the last quarter. Finally, British Airways Pensions Investment Management Ltd raised its stake in shares of Southern by 29.8% in the second quarter. British Airways Pensions Investment Management Ltd now owns 781,840 shares of the company’s stock worth $42,096,000 after buying an additional 179,480 shares in the last quarter. 48.64% of the stock is currently owned by hedge funds and other institutional investors.
Southern Co. (NYSE:SO) traded down 0.432% during mid-day trading on Tuesday, reaching $49.535. 2,966,908 shares of the company’s stock traded hands. The company has a market capitalization of $46.64 billion, a price-to-earnings ratio of 19.665 and a beta of 0.08. Southern Co. has a 52-week low of $43.38 and a 52-week high of $54.64. The company has a 50-day moving average of $51.60 and a 200-day moving average of $51.39.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the 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 company earned $4.45 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Southern’s revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Southern Co. will post $2.86 EPS for the current year.
A number of equities research analysts have weighed in on SO shares. Barclays PLC raised Southern from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $62.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Mizuho reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Southern in a report on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $54.00 price objective on shares of Southern in a report on Thursday, July 14th. Jefferies Group lifted their price target on shares of Southern from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Finally, SunTrust Banks Inc. reduced their price target on shares of Southern from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.50.
In related news, EVP Christopher C. Womack sold 46,008 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were 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 owns 56,149 shares in the company, valued at $2,998,356.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stan W. Connally sold 14,392 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $53.75, for a total transaction of $773,570.00. Following the transaction, the chief executive officer now owns 17,716 shares of the company’s stock, valued at approximately $952,235. The disclosure for this sale can be found here. Corporate 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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