Southern Co. (SO) Shares Sold by Pring Turner Capital Group Inc.
Pring Turner Capital Group Inc. lowered its position in Southern Co. (NYSE:SO) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 56,185 shares of the company’s stock after selling 75 shares during the period. Southern makes up 3.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 6th largest position. Pring Turner Capital Group Inc.’s holdings in Southern were worth $3,013,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in SO. State Street Corp boosted its stake in shares of Southern by 7.9% in the first quarter. State Street Corp now owns 45,685,547 shares of the company’s stock worth $2,363,311,000 after buying an additional 3,331,298 shares during the period. Geode Capital Management LLC boosted its stake in shares of Southern by 2.2% in the first quarter. Geode Capital Management LLC now owns 7,682,592 shares of the company’s stock worth $396,644,000 after buying an additional 166,136 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Southern by 19.7% in the first quarter. Pictet Asset Management Ltd. now owns 4,370,665 shares of the company’s stock worth $210,579,000 after buying an additional 720,070 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Southern by 39.9% in the first quarter. Renaissance Technologies LLC now owns 3,473,700 shares of the company’s stock worth $179,695,000 after buying an additional 990,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Southern by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,792,913 shares of the company’s stock worth $149,784,000 after buying an additional 47,865 shares during the period. Institutional investors and hedge funds own 48.64% of the company’s stock.
Southern Co. (NYSE:SO) traded up 0.69% on Tuesday, reaching $51.04. 2,060,440 shares of the company traded hands. The firm has a 50 day moving average of $51.40 and a 200-day moving average of $51.36. Southern Co. has a one year low of $43.38 and a one year high of $54.64. The stock has a market capitalization of $48.06 billion, a PE ratio of 20.26 and a beta of 0.08.
Southern (NYSE:SO) last posted its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The firm earned $4.45 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, analysts anticipate that Southern Co. will post $2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 21st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.42%. Southern’s dividend payout ratio (DPR) is currently 87.50%.
Several equities research analysts have weighed in on SO shares. Barclays PLC upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $62.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Mizuho restated a “hold” rating and issued a $50.00 price objective on shares of Southern in a research report on Monday, July 11th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research report on Thursday, July 14th. Jefferies Group raised their price objective on shares of Southern from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Finally, SunTrust Banks Inc. lowered their price objective on shares of Southern from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $53.50.
In other news, CEO Stan W. Connally sold 14,392 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $53.75, for a total value of $773,570.00. Following the completion of the transaction, the chief executive officer now owns 17,716 shares of the company’s stock, valued at $952,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher C. Womack sold 46,008 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 56,149 shares of the company’s stock, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
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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