Robinson Value Management Ltd. Lowers Holdings in Southern Co (SO)

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Robinson Value Management Ltd. lessened its position in shares of Southern Co (NYSE:SO) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,581 shares of the utilities provider’s stock after selling 1,876 shares during the period. Southern comprises 1.6% of Robinson Value Management Ltd.’s holdings, making the stock its 26th largest position. Robinson Value Management Ltd.’s holdings in Southern were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SO. BlackRock Inc. grew its holdings in shares of Southern by 1.8% in the 2nd quarter. BlackRock Inc. now owns 64,498,296 shares of the utilities provider’s stock valued at $2,986,915,000 after acquiring an additional 1,168,307 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Southern by 5.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,224,108 shares of the utilities provider’s stock valued at $794,571,000 after acquiring an additional 881,373 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Southern by 16.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,334,190 shares of the utilities provider’s stock valued at $385,555,000 after acquiring an additional 1,156,583 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Southern by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 7,369,066 shares of the utilities provider’s stock valued at $341,262,000 after acquiring an additional 187,429 shares in the last quarter. Finally, FMR LLC lifted its stake in Southern by 7.2% in the 2nd quarter. FMR LLC now owns 6,720,611 shares of the utilities provider’s stock valued at $311,231,000 after purchasing an additional 451,664 shares during the last quarter. Hedge funds and other institutional investors own 57.42% of the company’s stock.

Shares of NYSE:SO opened at $44.74 on Monday. Southern Co has a 52-week low of $42.38 and a 52-week high of $53.51. The stock has a market capitalization of $45.37 billion, a P/E ratio of 14.81, a PEG ratio of 3.31 and a beta of -0.09. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.68.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.11. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.28 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. On average, sell-side analysts expect that Southern Co will post 3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Monday, November 19th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.40 annualized dividend and a yield of 5.36%. Southern’s dividend payout ratio (DPR) is presently 79.47%.

SO has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Southern in a research note on Tuesday, July 10th. They issued an “overweight” rating and a $51.00 target price for the company. Morgan Stanley raised their target price on shares of Southern from $42.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, July 16th. Howard Weil initiated coverage on shares of Southern in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $45.00 target price for the company. Scotiabank reiterated a “sector perform” rating on shares of Southern in a research note on Tuesday, July 24th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $50.00 target price on shares of Southern in a research note on Monday, August 6th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Southern presently has an average rating of “Hold” and a consensus price target of $46.11.

In other Southern news, EVP Christopher C. Womack sold 16,371 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the sale, the executive vice president now directly owns 10,165 shares in the company, valued at $481,821. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.73% of the company’s stock.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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