Fulton Bank N.A. cut its stake in Southern Co (NYSE:SO) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,796 shares of the utilities provider’s stock after selling 1,137 shares during the period. Fulton Bank N.A.’s holdings in Southern were worth $3,305,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SO. Western Wealth Management LLC raised its holdings in shares of Southern by 3.4% during the first quarter. Western Wealth Management LLC now owns 5,833 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 193 shares during the period. Webster Bank N. A. raised its holdings in shares of Southern by 15.3% during the first quarter. Webster Bank N. A. now owns 1,509 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 200 shares during the period. Home Federal Bank of Tennessee raised its holdings in shares of Southern by 1.4% during the first quarter. Home Federal Bank of Tennessee now owns 14,242 shares of the utilities provider’s stock worth $736,000 after purchasing an additional 200 shares during the period. Resources Management Corp CT ADV raised its holdings in shares of Southern by 1.8% during the fourth quarter. Resources Management Corp CT ADV now owns 11,261 shares of the utilities provider’s stock worth $494,000 after purchasing an additional 201 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Southern by 1.3% during the first quarter. Victory Capital Management Inc. now owns 15,156 shares of the utilities provider’s stock worth $783,000 after purchasing an additional 201 shares during the period. 56.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on SO shares. ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Mizuho increased their price objective on shares of Southern from $48.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Evercore ISI raised shares of Southern from an “in-line” rating to an “outperform” rating in a report on Friday, May 3rd. Barclays reaffirmed a “top pick” rating and issued a GBX 3,250 ($42.47) price objective on shares of in a report on Wednesday, June 19th. Finally, Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.67.
Shares of SO stock traded down $0.06 during trading hours on Tuesday, reaching $55.42. The stock had a trading volume of 2,957,150 shares, compared to its average volume of 4,540,021. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.37. Southern Co has a twelve month low of $42.50 and a twelve month high of $57.08. The company’s 50-day simple moving average is $55.56. The company has a market cap of $57.60 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 4.06 and a beta of 0.20.
Southern (NYSE:SO) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.70. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.66 billion. Southern had a net margin of 15.03% and a return on equity of 10.37%. Southern’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Analysts predict that Southern Co will post 3.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 19th will be given a $0.62 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.48 dividend on an annualized basis and a yield of 4.47%. Southern’s dividend payout ratio is presently 80.78%.
In related news, CEO Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $53.50, for a total value of $107,000.00. Following the completion of the transaction, the chief executive officer now owns 75,772 shares in the company, valued at approximately $4,053,802. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ann P. Daiss sold 3,775 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $56.42, for a total transaction of $212,985.50. Following the completion of the transaction, the insider now owns 13,787 shares of the company’s stock, valued at approximately $777,862.54. The disclosure for this sale can be found here. Insiders sold a total of 750,397 shares of company stock valued at $41,266,682 in the last quarter. 0.88% of the stock is currently owned by insiders.
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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