Signaturefd LLC Reduces Stock Position in Southern Co (NYSE:SO)

Signaturefd LLC cut its holdings in Southern Co (NYSE:SO) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 57,518 shares of the utilities provider’s stock after selling 3,129 shares during the period. Signaturefd LLC’s holdings in Southern were worth $2,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gables Capital Management Inc. grew its position in shares of Southern by 5.7% in the 2nd quarter. Gables Capital Management Inc. now owns 9,796 shares of the utilities provider’s stock valued at $508,000 after buying an additional 525 shares during the last quarter. Brinker Capital Inc. lifted its position in Southern by 64.5% in the second quarter. Brinker Capital Inc. now owns 78,875 shares of the utilities provider’s stock valued at $4,090,000 after acquiring an additional 30,924 shares during the last quarter. Community Bank N.A. grew its holdings in shares of Southern by 62.2% during the second quarter. Community Bank N.A. now owns 19,644 shares of the utilities provider’s stock worth $1,018,000 after purchasing an additional 7,534 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Southern by 12.2% during the second quarter. State of Michigan Retirement System now owns 269,682 shares of the utilities provider’s stock worth $13,983,000 after purchasing an additional 29,252 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Southern by 113.0% in the 2nd quarter. Koshinski Asset Management Inc. now owns 13,699 shares of the utilities provider’s stock valued at $710,000 after purchasing an additional 7,269 shares during the last quarter. 58.82% of the stock is owned by institutional investors.

Shares of NYSE SO traded down $0.63 during trading on Friday, hitting $54.61. 5,643,630 shares of the company were exchanged, compared to its average volume of 3,498,701. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.99 and a quick ratio of 0.78. Southern Co has a 1 year low of $41.96 and a 1 year high of $71.10. The company has a market cap of $57.72 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 4.34 and a beta of 0.42. The firm’s fifty day moving average price is $53.86 and its 200 day moving average price is $58.51.

Southern (NYSE:SO) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Southern had a return on equity of 10.48% and a net margin of 15.83%. The company’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, research analysts forecast that Southern Co will post 3.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, August 14th. Southern’s dividend payout ratio is currently 82.32%.

SO has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $67.00 price target on shares of Southern in a research report on Thursday, April 30th. Morgan Stanley lifted their target price on shares of Southern from $53.00 to $55.00 and gave the company an “underweight” rating in a report on Friday, July 17th. UBS Group downgraded shares of Southern from a “neutral” rating to a “sell” rating and upped their price target for the company from $54.00 to $63.00 in a research report on Thursday, May 21st. Mizuho lowered their price objective on shares of Southern from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 22nd. Finally, Credit Suisse Group upgraded shares of Southern from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $60.00 to $61.00 in a research note on Monday, May 4th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Southern presently has a consensus rating of “Hold” and an average price target of $62.16.

In related news, CEO Stephen E. Kuczynski sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the sale, the chief executive officer now owns 76,996 shares of the company’s stock, valued at approximately $4,234,780. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ernest J. Moniz bought 3,500 shares of Southern stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average cost of $54.72 per share, for a total transaction of $191,520.00. Following the purchase, the director now owns 3,500 shares in the company, valued at approximately $191,520. The disclosure for this purchase can be found here. Insiders have sold a total of 57,000 shares of company stock valued at $3,365,090 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

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.

See Also: Coverage Ratio

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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