Sabal Trust CO Purchases 13,372 Shares of Southern Co. (SO)
Sabal Trust CO boosted its position in shares of Southern Co. (NYSE:SO) by 3.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 440,062 shares of the company’s stock after buying an additional 13,372 shares during the period. Southern comprises approximately 2.7% of Sabal Trust CO’s investment portfolio, making the stock its 16th largest position. Sabal Trust CO’s holdings in Southern were worth $23,601,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank raised its stake in shares of Southern by 167.6% in the second quarter. Huntington National Bank now owns 255,875 shares of the company’s stock valued at $13,723,000 after buying an additional 160,243 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its stake in shares of Southern by 8.9% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 6,229 shares of the company’s stock valued at $334,000 after buying an additional 509 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Southern by 9.2% in the second quarter. Advisory Services Network LLC now owns 26,275 shares of the company’s stock valued at $1,409,000 after buying an additional 2,211 shares in the last quarter. Dividend Assets Capital LLC raised its stake in shares of Southern by 8.3% in the second quarter. Dividend Assets Capital LLC now owns 4,587 shares of the company’s stock valued at $246,000 after buying an additional 350 shares in the last quarter. Finally, First New York Securities LLC NY bought a new stake in shares of Southern during the second quarter valued at approximately $166,000. Institutional investors and hedge funds own 48.64% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded down 0.18% during trading on Thursday, hitting $49.43. The stock had a trading volume of 6,087,039 shares. The stock has a 50 day moving average price of $51.81 and a 200-day moving average price of $51.41. The stock has a market capitalization of $46.54 billion, a price-to-earnings ratio of 19.62 and a beta of 0.08. Southern Co. has a one year low of $43.38 and a one year high of $54.64.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 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 business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Southern’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Southern Co. will post $2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 15th were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $2.24 annualized dividend and a yield of 4.53%. Southern’s payout ratio is 87.50%.
Several analysts recently commented on SO shares. Barclays PLC raised Southern from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $62.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Mizuho reaffirmed a “hold” rating and issued a $50.00 price target on shares of Southern in a research note on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $54.00 price target on shares of Southern in a research note on Thursday, July 14th. Jefferies Group boosted their price target on Southern from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, SunTrust Banks Inc. decreased their price target on Southern from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, August 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.50.
In related news, CEO Mark A. Crosswhite sold 167,273 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.30, for a total value of $8,915,650.90. Following the transaction, the chief executive officer now owns 171,983 shares in the company, valued at $9,166,693.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total value of $2,456,827.20. Following the completion of the transaction, the executive vice president now owns 56,149 shares in the company, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate 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.
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