Dean Capital Investments Management LLC reduced its stake in Southern Co (NYSE:SO) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,734 shares of the utilities provider’s stock after selling 710 shares during the quarter. Dean Capital Investments Management LLC’s holdings in Southern were worth $663,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Krane Funds Advisors LLC bought a new stake in Southern during the 2nd quarter worth about $25,000. Lenox Wealth Advisors LLC bought a new stake in Southern during the 3rd quarter worth about $25,000. KCS Wealth Advisory bought a new stake in Southern during the 3rd quarter worth about $25,000. Atlantic Trust LLC bought a new stake in Southern during the 2nd quarter worth about $28,000. Finally, Salomon & Ludwin LLC bought a new stake in Southern during the 2nd quarter worth about $29,000. 58.21% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $58.28, for a total value of $116,560.00. Following the transaction, the chief executive officer now owns 69,772 shares in the company, valued at approximately $4,066,312.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $62.16, for a total transaction of $1,554,000.00. Following the completion of the transaction, the executive vice president now owns 67,655 shares in the company, valued at approximately $4,205,434.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,533 shares of company stock worth $10,941,987. 0.88% of the stock is owned by company insiders.
Several brokerages have commented on SO. ValuEngine cut shares of Southern from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Morgan Stanley cut their price target on shares of Southern from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Friday, August 16th. SunTrust Banks set a $59.00 price objective on shares of Southern and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. UBS Group boosted their price objective on shares of Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Bank of America boosted their price objective on shares of Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Southern presently has a consensus rating of “Hold” and a consensus price target of $56.80.
Shares of Southern stock traded up $0.12 during trading on Tuesday, hitting $60.59. 481,589 shares of the stock were exchanged, compared to its average volume of 3,929,198. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 4.40 and a beta of 0.15. The company has a fifty day moving average price of $61.55 and a 200-day moving average price of $57.37. Southern Co has a 1-year low of $42.50 and a 1-year high of $63.09. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.37.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.20. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.01 billion. Southern had a net margin of 21.02% and a return on equity of 10.52%. Southern’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. Equities research analysts forecast that Southern Co will post 3.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 4.09%. Southern’s dividend payout ratio is presently 80.78%.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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