Huntington National Bank Increases Stake in Southern Co. (SO)
Huntington National Bank raised its stake in Southern Co. (NYSE:SO) by 167.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 255,875 shares of the company’s stock after buying an additional 160,243 shares during the period. Huntington National Bank’s holdings in Southern were worth $13,723,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of SO. Berkeley Capital Partners LLC boosted its stake in Southern by 41.0% in the first quarter. Berkeley Capital Partners LLC now owns 27,073 shares of the company’s stock valued at $1,400,000 after buying an additional 7,866 shares during the period. USS Investment Management Ltd acquired a new stake in Southern during the first quarter valued at about $6,435,000. NN Investment Partners Holdings N.V. acquired a new stake in Southern during the first quarter valued at about $2,480,000. Nikko Asset Management Americas Inc. boosted its stake in Southern by 137.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 12,100 shares of the company’s stock valued at $620,000 after buying an additional 7,000 shares during the period. Finally, Sentry Investment Management LLC boosted its stake in Southern by 0.3% in the first quarter. Sentry Investment Management LLC now owns 70,971 shares of the company’s stock valued at $3,671,000 after buying an additional 187 shares during the period. 48.64% of the stock is owned by institutional investors.
Shares of Southern Co. (NYSE:SO) traded up 1.30% during mid-day trading on Wednesday, reaching $50.05. The company’s stock had a trading volume of 4,286,964 shares. The firm has a 50-day moving average of $51.53 and a 200-day moving average of $51.38. Southern Co. has a 52 week low of $43.38 and a 52 week high of $54.64. The firm has a market capitalization of $47.13 billion, a PE ratio of 19.87 and a beta of 0.08.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Southern had a return on equity of 12.50% and a net margin of 13.77%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Southern Co. will post $2.86 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. Mizuho reissued a “hold” rating and set a $50.00 target price on shares of Southern in a research note on Monday, July 11th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research note on Monday, July 11th. SunTrust Banks Inc. lifted their price objective on Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $53.50.
In other news, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the completion of the sale, the executive vice president now directly owns 56,149 shares in the company, valued at approximately $2,998,356.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark A. Crosswhite sold 167,273 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 171,983 shares of the company’s stock, valued at $9,166,693.90. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
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.
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co. (NYSE:SO).
Receive News & Ratings for Southern Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Co. and related companies with MarketBeat.com's FREE daily email newsletter.