Heritage Investors Management Corp Reduces Stock Holdings in Southern Co (NYSE:SO)

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Heritage Investors Management Corp decreased its position in Southern Co (NYSE:SO) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,537 shares of the utilities provider’s stock after selling 765 shares during the period. Heritage Investors Management Corp’s holdings in Southern were worth $466,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Altfest L J & Co. Inc. lifted its position in shares of Southern by 3.8% during the second quarter. Altfest L J & Co. Inc. now owns 6,574 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 240 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Southern by 14.5% during the second quarter. AE Wealth Management LLC now owns 125,153 shares of the utilities provider’s stock worth $6,918,000 after acquiring an additional 15,834 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Southern by 4.0% during the second quarter. CENTRAL TRUST Co now owns 71,185 shares of the utilities provider’s stock worth $4,021,000 after acquiring an additional 2,752 shares in the last quarter. Invesco Ltd. lifted its position in shares of Southern by 22.4% during the second quarter. Invesco Ltd. now owns 7,200,728 shares of the utilities provider’s stock worth $398,057,000 after acquiring an additional 1,319,096 shares in the last quarter. Finally, Outlook Wealth Advisors LLC lifted its position in shares of Southern by 2.7% during the second quarter. Outlook Wealth Advisors LLC now owns 10,637 shares of the utilities provider’s stock worth $588,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 58.38% of the company’s stock.

SO has been the topic of several recent research reports. SunTrust Banks set a $59.00 target price on Southern and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Morgan Stanley dropped their target price on Southern from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Friday, August 16th. ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Bank of America increased their price objective on Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, UBS Group increased their price objective on Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.70.

Shares of SO stock opened at $61.14 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.59 and a current ratio of 0.76. Southern Co has a 52-week low of $42.50 and a 52-week high of $62.36. The company has a market capitalization of $63.52 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.16. The business’s fifty day moving average is $60.67 and its 200 day moving average is $56.26.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. Southern had a return on equity of 10.04% and a net margin of 20.18%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was down 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Southern Co will post 3.06 EPS for the current fiscal year.

In related news, CEO Stephen E. Kuczynski sold 123,533 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $61.87, for a total value of $7,642,986.71. Following the transaction, the chief executive officer now owns 191,305 shares of the company’s stock, valued at $11,836,040.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.51, for a total value of $115,020.00. Following the completion of the transaction, the chief executive officer now directly owns 71,772 shares in the company, valued at approximately $4,127,607.72. The disclosure for this sale can be found here. Insiders sold 202,533 shares of company stock worth $12,386,567 in the last quarter. 0.88% of the stock is currently owned by company insiders.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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