HM Payson & Co. trimmed its position in Southern Co (NYSE:SO) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,322 shares of the utilities provider’s stock after selling 1,924 shares during the period. HM Payson & Co.’s holdings in Southern were worth $1,173,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SO. Schroder Investment Management Group grew its position in Southern by 364.1% in the second quarter. Schroder Investment Management Group now owns 411,131 shares of the utilities provider’s stock valued at $19,051,000 after acquiring an additional 322,552 shares in the last quarter. Mainstay Capital Management LLC ADV grew its position in Southern by 2,035.4% in the second quarter. Mainstay Capital Management LLC ADV now owns 861,791 shares of the utilities provider’s stock valued at $19,097,000 after acquiring an additional 821,434 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Southern by 1.5% in the second quarter. Public Employees Retirement System of Ohio now owns 702,519 shares of the utilities provider’s stock valued at $32,534,000 after acquiring an additional 10,324 shares in the last quarter. Hellman Jordan Management Co. Inc. MA grew its position in Southern by 110.7% in the second quarter. Hellman Jordan Management Co. Inc. MA now owns 23,413 shares of the utilities provider’s stock valued at $1,084,000 after acquiring an additional 12,300 shares in the last quarter. Finally, City Holding Co. grew its position in Southern by 2.9% in the second quarter. City Holding Co. now owns 46,937 shares of the utilities provider’s stock valued at $2,174,000 after acquiring an additional 1,326 shares in the last quarter. Institutional investors own 57.35% of the company’s stock.
Shares of SO opened at $43.58 on Friday. Southern Co has a 12-month low of $42.38 and a 12-month high of $53.51. The firm has a market cap of $44.22 billion, a P/E ratio of 14.43, a PEG ratio of 3.26 and a beta of -0.05. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.11. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Southern had a return on equity of 13.06% and a net margin of 9.96%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. As a group, analysts predict that Southern Co will post 2.97 EPS for the current fiscal year.
Several analysts have issued reports on SO shares. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, October 9th. Morgan Stanley increased their target price on Southern from $42.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, July 16th. Bank of America upgraded Southern from an “underperform” rating to a “neutral” rating and set a $46.00 target price for the company in a research note on Wednesday. Citigroup cut Southern from a “neutral” rating to a “sell” rating and set a $45.00 target price for the company. in a research note on Wednesday, August 8th. Finally, Howard Weil started coverage on Southern in a research note on Tuesday, July 24th. They set a “sector perform” rating and a $45.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Southern presently has an average rating of “Hold” and an average price target of $46.04.
In other Southern news, EVP Christopher C. Womack sold 16,371 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $47.40, for a total value of $775,985.40. Following the sale, the executive vice president now directly owns 10,165 shares in the company, valued at $481,821. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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