Southern Company (The) $SO Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Southern Company (The) (NYSE:SO) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,221 shares of the utilities provider’s stock after purchasing an additional 11,059 shares during the quarter. Public Sector Pension Investment Board’s holdings in Southern were worth $22,481,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Southern during the second quarter valued at approximately $1,179,715,000. Laurel Wealth Advisors LLC raised its stake in Southern by 9,099.6% during the second quarter. Laurel Wealth Advisors LLC now owns 4,421,331 shares of the utilities provider’s stock worth $406,011,000 after acquiring an additional 4,373,271 shares during the period. Soroban Capital Partners LP raised its position in shares of Southern by 83.8% during the 2nd quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock worth $376,266,000 after purchasing an additional 1,867,912 shares during the period. Vanguard Group Inc. lifted its position in Southern by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 105,904,243 shares of the utilities provider’s stock valued at $9,725,187,000 after purchasing an additional 1,694,066 shares during the last quarter. Finally, Soundwatch Capital LLC acquired a new stake in Southern in the 2nd quarter valued at approximately $103,342,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on SO. Royal Bank Of Canada reissued a “sector perform” rating and set a $105.00 target price on shares of Southern in a research note on Friday, January 23rd. TD Cowen restated a “buy” rating on shares of Southern in a report on Thursday, December 11th. KeyCorp cut their price objective on shares of Southern from $87.00 to $76.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Mizuho lowered their price objective on Southern from $97.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Finally, Jefferies Financial Group decreased their price target on shares of Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.91.

Southern Stock Up 2.6%

Shares of NYSE SO opened at $94.93 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69. Southern Company has a 12 month low of $83.09 and a 12 month high of $100.83. The firm has a fifty day simple moving average of $87.90 and a two-hundred day simple moving average of $91.38. The firm has a market capitalization of $104.53 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 2.80 and a beta of 0.45.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.1%. Southern’s dividend payout ratio is currently 73.27%.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.