Southern Company (The) $SO Stock Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. trimmed its stake in Southern Company (The) (NYSE:SO) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,809,817 shares of the utilities provider’s stock after selling 213,495 shares during the quarter. Southern comprises 1.7% of Mawer Investment Management Ltd.’s portfolio, making the stock its 21st largest position. Mawer Investment Management Ltd. owned about 0.24% of Southern worth $232,906,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Southern by 4.9% during the first quarter. Bank of America Corp DE now owns 8,380,592 shares of the utilities provider’s stock worth $808,895,000 after purchasing an additional 392,210 shares during the period. Legal & General Group Plc acquired a new position in shares of Southern in the 2nd quarter valued at $737,256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Southern by 9.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,681,674 shares of the utilities provider’s stock valued at $543,793,000 after purchasing an additional 508,149 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Southern by 0.5% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,785,562 shares of the utilities provider’s stock valued at $313,785,000 after purchasing an additional 19,239 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Southern by 7.2% during the 1st quarter. Swiss National Bank now owns 3,231,400 shares of the utilities provider’s stock valued at $311,895,000 after buying an additional 216,900 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Up 1.3%

NYSE:SO traded up $1.16 during mid-day trading on Friday, hitting $93.63. The company had a trading volume of 22,081,068 shares, compared to its average volume of 7,297,573. The business has a fifty day simple moving average of $88.67 and a 200-day simple moving average of $92.61. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 1.55. Southern Company has a 1 year low of $81.69 and a 1 year high of $99.58. The firm has a market capitalization of $109.01 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.39 and a beta of 0.30.

Southern (NYSE:SO) last issued its quarterly earnings data on Thursday, November 5th. The utilities provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.23. Southern had a return on equity of 13.57% and a net margin of 16.00%. The company had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.38 billion. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Southern Company will post 4.66 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 16th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, November 16th. Southern’s dividend payout ratio (DPR) is presently 69.25%.

Insider Activity at Southern

In related news, EVP Sterling Spainhour, Jr. sold 3,333 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $91.81, for a total transaction of $306,002.73. Following the transaction, the executive vice president directly owned 31,886 shares of the company’s stock, valued at approximately $2,927,453.66. The trade was a 9.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

SO has been the subject of a number of research analyst reports. Barclays dropped their price objective on Southern from $101.00 to $92.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. JPMorgan Chase & Co. cut their target price on Southern from $101.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Citigroup reduced their target price on Southern from $114.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, September 25th. DA Davidson set a $98.00 price target on Southern in a research report on Wednesday, October 21st. Finally, Ladenburg Thalmann & Co. Inc. lowered their price target on Southern from $96.50 to $85.50 and set a “neutral” rating for the company in a research report on Monday, September 28th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Southern currently has a consensus rating of “Hold” and a consensus target price of $97.32.

Southern Company Profile

Southern Company is an energy holding company based in Atlanta, Georgia. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service, primarily across the southeastern United States. Its electric utility businesses include Alabama Power, Georgia Power and Mississippi Power, which serve customers in their respective states. Southern Company also owns Southern Power, which develops and operates wholesale power generation assets, and Southern Company Gas, whose businesses distribute natural gas to customers in several states.