Eads & Heald Investment Counsel Lowers Position in Southern Co. (SO)

Eads & Heald Investment Counsel reduced its position in Southern Co. (NYSE:SO) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,367 shares of the company’s stock after selling 700 shares during the period. Eads & Heald Investment Counsel’s holdings in Southern were worth $1,039,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SO. Blue Fin Capital Inc. increased its stake in Southern by 1.9% in the second quarter. Blue Fin Capital Inc. now owns 18,300 shares of the company’s stock worth $981,000 after buying an additional 350 shares in the last quarter. Glenview State Bank Trust DEPT. increased its stake in Southern by 21.7% in the second quarter. Glenview State Bank Trust DEPT. now owns 11,242 shares of the company’s stock worth $603,000 after buying an additional 2,005 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Southern by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,792,913 shares of the company’s stock worth $149,784,000 after buying an additional 47,865 shares in the last quarter. DT Investment Partners LLC increased its stake in Southern by 25.2% in the second quarter. DT Investment Partners LLC now owns 19,583 shares of the company’s stock worth $1,050,000 after buying an additional 3,945 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Southern by 1.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 69,777 shares of the company’s stock worth $3,742,000 after buying an additional 969 shares in the last quarter. 48.64% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Southern (NYSE:SO)

Shares of Southern Co. (NYSE:SO) traded up 0.95% during trading on Tuesday, hitting $51.17. 2,202,165 shares of the stock traded hands. The stock has a 50 day moving average of $51.40 and a 200 day moving average of $51.36. Southern Co. has a 52-week low of $43.38 and a 52-week high of $54.64. The firm has a market cap of $48.18 billion, a price-to-earnings ratio of 20.31 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 (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Southern had a return on equity of 12.50% and a net margin of 13.77%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts expect that Southern Co. will post $2.86 EPS for the current year.

The business 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 yield of 4.42%. Southern’s dividend payout ratio (DPR) is presently 87.50%.

A number of analysts have recently weighed in 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 on the stock in a research report on Tuesday, September 27th. SunTrust Banks Inc. increased their price objective on shares of Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, September 26th. Jefferies Group reissued a “hold” rating on shares of Southern in a research report on Thursday, August 4th. Goldman Sachs Group Inc. reissued 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 shares of Southern from an “equal weight” rating to an “overweight” rating and increased their price objective for the company 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 issued a hold rating and three have assigned a buy rating to the company. The stock currently 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 business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $53.30, for a total transaction of $8,915,650.90. Following the sale, the chief executive officer now owns 171,983 shares in the company, valued at $9,166,693.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stan W. Connally sold 14,392 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $53.75, for a total value of $773,570.00. Following the sale, the chief executive officer now owns 17,716 shares in the company, valued at approximately $952,235. 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.

5 Day Chart for NYSE:SO

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