Sit Investment Associates Inc. Cuts Holdings in Southern Company (The) (SO)

Sit Investment Associates Inc. lessened its position in Southern Company (The) (NYSE:SO) by 57.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,725 shares of the utilities provider’s stock after selling 335,700 shares during the period. Sit Investment Associates Inc.’s holdings in Southern Company (The) were worth $12,419,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SO. BlackRock Inc. raised its position in shares of Southern Company (The) by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after buying an additional 60,040,696 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Southern Company (The) by 3,580.1% in the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after purchasing an additional 4,546,503 shares during the period. Capital Research Global Investors grew its holdings in Southern Company (The) by 25.3% in the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after purchasing an additional 3,015,226 shares during the period. Vanguard Group Inc. grew its holdings in Southern Company (The) by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after purchasing an additional 2,688,854 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Southern Company (The) by 3.6% in the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after purchasing an additional 770,413 shares during the period. 52.64% of the stock is owned by institutional investors and hedge funds.

Southern Company (SO) opened at $51.18 on Tuesday. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.51. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The company has a market cap of $51,150.00, a price-to-earnings ratio of 18.53, a PEG ratio of 4.60 and a beta of 0.15.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.81%. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. research analysts anticipate that Southern Company will post 2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.53%. Southern Company (The)’s payout ratio is currently 414.29%.

SO has been the subject of a number of recent analyst reports. Guggenheim upgraded shares of Southern Company (The) from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $56.00 in a report on Thursday, September 14th. Citigroup Inc. restated a “sell” rating and issued a $44.00 target price (up from $43.00) on shares of Southern Company (The) in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Southern Company (The) from a “buy” rating to a “hold” rating in a report on Friday, October 13th. BidaskClub upgraded shares of Southern Company (The) from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Finally, Mizuho upgraded shares of Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Southern Company (The) presently has an average rating of “Hold” and an average target price of $49.72.

In other news, EVP Christopher C. Womack sold 46,641 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,471,973.00. Following the transaction, the executive vice president now directly owns 56,799 shares of the company’s stock, valued at $3,010,347. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total transaction of $270,662.40. Following the transaction, the insider now directly owns 7,474 shares in the company, valued at $398,214.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,813 shares of company stock worth $11,029,988. Corporate insiders own 0.74% of the company’s stock.

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Southern Company (The) 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.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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