Louisiana State Employees Retirement System lessened its holdings in shares of Southern Co (NYSE:SO) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,800 shares of the utilities provider’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Southern were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Lenox Wealth Advisors LLC purchased a new stake in shares of Southern during the third quarter worth about $25,000. KCS Wealth Advisory purchased a new stake in shares of Southern during the third quarter worth about $25,000. Salomon & Ludwin LLC purchased a new stake in shares of Southern during the second quarter worth about $29,000. Venturi Wealth Management LLC purchased a new stake in shares of Southern during the third quarter worth about $34,000. Finally, Alpha Windward LLC purchased a new stake in shares of Southern during the fourth quarter worth about $36,000. 58.97% of the stock is owned by hedge funds and other institutional investors.
In other Southern news, Pres. & CEO, Southern Nuclear Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $62.08, for a total value of $124,160.00. Following the sale, the insider now directly owns 63,772 shares of the company’s stock, valued at approximately $3,958,965.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Anthony L. Wilson sold 61,018 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $65.00, for a total transaction of $3,966,170.00. Following the completion of the sale, the chief executive officer now directly owns 90,208 shares in the company, valued at $5,863,520. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,218,238 shares of company stock worth $139,737,603. Insiders own 0.88% of the company’s stock.
Southern (NYSE:SO) last announced its earnings results 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. Southern had a net margin of 21.02% and a return on equity of 10.52%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts expect that Southern Co will post 3.1 EPS for the current fiscal year.
A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Southern from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. SunTrust Banks boosted their price target on shares of Southern from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Credit Suisse Group boosted their price target on shares of Southern from $60.00 to $64.00 and gave the company an “underperform” rating in a research note on Wednesday, December 18th. Finally, Evercore ISI reissued a “hold” rating and issued a $63.50 price target on shares of Southern in a research note on Sunday, December 15th. Five investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.77.
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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