Investment House LLC Boosts Stake in Southern Co (SO)
Investment House LLC raised its stake in Southern Co (NYSE:SO) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 4,720 shares of the utilities provider’s stock after buying an additional 3 shares during the period. Investment House LLC’s holdings in Southern were worth $226,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SO. Orrstown Financial Services Inc. boosted its position in shares of Southern by 10.8% in the first quarter. Orrstown Financial Services Inc. now owns 2,050 shares of the utilities provider’s stock valued at $102,000 after buying an additional 200 shares during the last quarter. Symmetry Partners LLC acquired a new position in shares of Southern during the first quarter valued at approximately $103,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Southern during the first quarter valued at approximately $108,000. Stuart Chaussee & Associates Inc. boosted its position in shares of Southern by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after buying an additional 1,740 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of Southern by 15.3% in the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 53.57% of the company’s stock.
Shares of Southern Co (NYSE SO) traded down 0.80% during mid-day trading on Friday, reaching $48.42. 3,227,618 shares of the company’s stock were exchanged. Southern Co has a 52-week low of $46.20 and a 52-week high of $53.73. The company has a market cap of $48.39 billion, a PE ratio of 79.64 and a beta of 0.12. The company’s 50-day moving average price is $48.08 and its 200 day moving average price is $49.46.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Southern had a negative return on equity of 22.86% and a negative net margin of 24.83%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. On average, equities research analysts predict that Southern Co will post $2.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Monday, August 21st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Thursday, August 17th. Southern’s payout ratio is 346.27%.
Several research analysts recently commented on the stock. J P Morgan Chase & Co assumed coverage on shares of Southern in a report on Tuesday. They set an “overweight” rating and a $16.78 target price for the company. Credit Suisse Group upgraded shares of Southern from an “underperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Southern from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Morgan Stanley increased their target price on shares of Southern from $50.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Finally, Barclays PLC restated a “buy” rating and set a $55.00 target price on shares of Southern in a report on Monday, May 15th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Southern currently has an average rating of “Hold” and an average price target of $48.79.
In related news, insider Art P. Beattie sold 46,940 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total value of $2,417,410.00. Following the completion of the sale, the insider now owns 59,493 shares of the company’s stock, valued at $3,063,889.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $51.28, for a total value of $256,400.00. Following the completion of the sale, 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. Insiders sold 152,084 shares of company stock valued at $7,665,158 in the last ninety days. 1.00% of the stock is currently owned by insiders.
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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