The Southern Company (NYSE:SO) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its holdings in The Southern Company (NYSE:SO) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,622 shares of the utilities provider’s stock after selling 1,205 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in The Southern were worth $1,369,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. JFS Wealth Advisors LLC boosted its holdings in The Southern by 530.3% during the second quarter. JFS Wealth Advisors LLC now owns 416 shares of the utilities provider’s stock worth $25,000 after buying an additional 350 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of The Southern during the 2nd quarter valued at approximately $27,000. BDO Wealth Advisors LLC purchased a new stake in shares of The Southern during the 1st quarter worth approximately $28,000. Sterling Investment Advisors Ltd. grew its holdings in shares of The Southern by 40.0% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 700 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 200 shares during the period. Finally, RMR Wealth Builders increased its stake in The Southern by 146.8% in the 1st quarter. RMR Wealth Builders now owns 822 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 489 shares in the last quarter. Hedge funds and other institutional investors own 59.30% of the company’s stock.

In other news, EVP Martin Bernard Davis sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $64.61, for a total transaction of $452,270.00. Following the completion of the transaction, the executive vice president now directly owns 28,089 shares of the company’s stock, valued at $1,814,830.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the firm’s stock in a transaction on Friday, October 8th. The shares were sold at an average price of $62.65, for a total value of $156,625.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,747 shares of company stock worth $5,969,659. 0.43% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on SO. Mizuho dropped their price target on The Southern from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Monday, October 4th. Wells Fargo & Company reaffirmed a “buy” rating on shares of The Southern in a report on Monday, August 2nd. Morgan Stanley lowered their price target on shares of The Southern from $64.00 to $63.00 and set an “underweight” rating on the stock in a research report on Friday, September 17th. Finally, Guggenheim upgraded The Southern from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, September 7th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Southern currently has a consensus rating of “Hold” and a consensus price target of $68.23.

Shares of NYSE:SO opened at $62.51 on Thursday. The company has a market capitalization of $66.19 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 4.01 and a beta of 0.45. The company has a 50 day moving average of $64.78 and a two-hundred day moving average of $63.99. The Southern Company has a 52-week low of $56.69 and a 52-week high of $67.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.46.

The Southern (NYSE:SO) last released its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.05. The Southern had a net margin of 14.47% and a return on equity of 11.43%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5 billion. On average, equities analysts anticipate that The Southern Company will post 3.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 16th were issued a dividend of $0.66 per share. The ex-dividend date was Friday, August 13th. This represents a $2.64 annualized dividend and a yield of 4.22%. The Southern’s dividend payout ratio is presently 81.23%.

The Southern Profile

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Institutional Ownership by Quarter for The Southern (NYSE:SO)

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