Brown Advisory Securities LLC Has $303,000 Stake in Southern Co (SO)
Brown Advisory Securities LLC boosted its position in Southern Co (NYSE:SO) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,105 shares of the utilities provider’s stock after buying an additional 519 shares during the period. Brown Advisory Securities LLC’s holdings in Southern were worth $303,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of SO. Kernodle & Katon Asset Management Group LLC increased its position in Southern by 2.3% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 3,951 shares of the utilities provider’s stock valued at $197,000 after buying an additional 88 shares during the period. Capital Investment Counsel Inc increased its position in Southern by 4.1% in the first quarter. Capital Investment Counsel Inc now owns 7,650 shares of the utilities provider’s stock valued at $381,000 after buying an additional 300 shares during the period. Amalgamated Bank increased its position in Southern by 10.6% in the first quarter. Amalgamated Bank now owns 69,619 shares of the utilities provider’s stock valued at $3,466,000 after buying an additional 6,684 shares during the period. Epoch Investment Partners Inc. increased its position in Southern by 5.0% in the first quarter. Epoch Investment Partners Inc. now owns 3,249,597 shares of the utilities provider’s stock valued at $161,765,000 after buying an additional 154,093 shares during the period. Finally, King Luther Capital Management Corp bought a new position in Southern during the first quarter valued at $234,000. Institutional investors and hedge funds own 53.57% of the company’s stock.
Southern Co (NYSE:SO) traded down 0.80% during trading on Friday, hitting $48.42. 3,227,618 shares of the company were exchanged. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of 79.64 and a beta of 0.12. The company has a 50-day moving average of $48.08 and a 200-day moving average of $49.46. Southern Co has a 12 month low of $46.20 and a 12 month high of $53.73.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. Southern had a negative net margin of 24.83% and a negative return on equity of 22.86%. The company’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. Analysts forecast that Southern Co will post $2.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, August 17th. Southern’s dividend payout ratio is presently 346.27%.
A number of analysts have commented on SO shares. Mizuho reiterated a “neutral” rating and issued a $49.50 price objective on shares of Southern in a report on Wednesday, April 19th. Barclays PLC reiterated an “overweight” rating and issued a $56.00 price objective (up previously from $53.00) on shares of Southern in a report on Sunday, April 23rd. Zacks Investment Research downgraded shares of Southern from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective (down previously from $56.00) on shares of Southern in a report on Thursday, May 4th. Finally, Morgan Stanley increased their price objective on shares of Southern from $50.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Southern currently has a consensus rating of “Hold” and an average price target of $48.79.
In related news, EVP Christopher C. Womack sold 75,144 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the transaction, the executive vice president now owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the transaction, the insider now directly owns 7,394 shares of the company’s stock, valued at approximately $379,164.32. The disclosure for this sale can be found here. In the last three months, insiders sold 152,084 shares of company stock valued at $7,665,158. 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 electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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