Whittier Trust Co. maintained its stake in Southern Co. (NYSE:SO) during the second quarter, Holdings Channel reports. The fund owned 2,469 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Southern were worth $132,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in SO. Zions Bancorporation boosted its stake in shares of 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 in the last quarter. Barnett & Company Inc. bought a new stake in shares of Southern during the first quarter worth about $155,000. First New York Securities LLC NY bought a new stake in shares of Southern during the second quarter worth about $166,000. Cribstone Capital Management LLC bought a new stake in shares of Southern during the second quarter worth about $184,000. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 48.64% of the company’s stock.
Southern Co. (NYSE:SO) traded up 0.26% during mid-day trading on Monday, hitting $50.69. The stock had a trading volume of 3,054,248 shares. Southern Co. has a 52 week low of $43.38 and a 52 week high of $54.64. The stock has a market capitalization of $47.73 billion, a P/E ratio of 20.12 and a beta of 0.08. The company’s 50 day moving average is $51.40 and its 200-day moving average is $51.36.
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 Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $4.45 billion for 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%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. On average, analysts expect that Southern Co. will post $2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.42%. Southern’s payout ratio is presently 87.50%.
SO has been the topic of a number of analyst reports. Mizuho reiterated a “hold” rating and set a $50.00 price objective on shares of Southern in a research note on Monday, July 11th. Jefferies Group reiterated a “hold” rating on shares of Southern in a research note on Monday, July 11th. Barclays PLC upgraded 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 note on Thursday, July 14th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $54.00 price objective on shares of Southern in a research note on Thursday, July 14th. Finally, SunTrust Banks Inc. dropped their price objective on Southern from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, August 29th. 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 company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.50.
In other Southern news, EVP Christopher C. Womack sold 46,008 shares of the business’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 sale, the executive vice president now directly owns 56,149 shares in the company, valued at $2,998,356.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark A. Crosswhite sold 167,273 shares of the business’s stock in a transaction on 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 owns 171,983 shares in the company, valued at $9,166,693.90. The disclosure for this sale can be found here. 1.00% of the stock is owned by company 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.
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co. (NYSE:SO).
Receive News & Ratings for Southern Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Co. and related companies with MarketBeat.com's FREE daily email newsletter.