Farr Miller & Washington LLC DC lowered its stake in The Southern Company (NYSE:SO) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,543 shares of the utilities provider’s stock after selling 170 shares during the quarter. Farr Miller & Washington LLC DC’s holdings in The Southern were worth $345,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Horizon Investments LLC bought a new position in shares of The Southern in the first quarter worth about $1,132,000. InterOcean Capital Group LLC raised its holdings in The Southern by 4.3% in the 1st quarter. InterOcean Capital Group LLC now owns 580,080 shares of the utilities provider’s stock valued at $36,058,000 after buying an additional 23,667 shares during the last quarter. Rockland Trust Co. raised its holdings in The Southern by 11.5% in the 1st quarter. Rockland Trust Co. now owns 134,621 shares of the utilities provider’s stock valued at $8,368,000 after buying an additional 13,854 shares during the last quarter. Regentatlantic Capital LLC raised its holdings in The Southern by 33.3% in the 1st quarter. Regentatlantic Capital LLC now owns 25,142 shares of the utilities provider’s stock valued at $1,563,000 after buying an additional 6,274 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in The Southern by 28.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 77,714 shares of the utilities provider’s stock valued at $4,774,000 after buying an additional 17,235 shares during the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.
Shares of SO stock opened at $62.82 on Thursday. The stock’s 50 day moving average is $62.98. The Southern Company has a 52 week low of $51.22 and a 52 week high of $66.93. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 1.41. The firm has a market cap of $66.57 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 3.83 and a beta of 0.45.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 7th. Investors of record on Monday, August 16th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, August 13th. The Southern’s payout ratio is currently 81.23%.
In other The Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the firm’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. Following the transaction, the chief executive officer now directly owns 94,151 shares in the company, valued at approximately $6,256,333.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ann P. Daiss sold 4,425 shares of the firm’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $66.05, for a total value of $292,271.25. Following the transaction, the insider now owns 14,501 shares in the company, valued at $957,791.05. The disclosure for this sale can be found here. In the last three months, insiders sold 9,425 shares of company stock valued at $618,721. 0.43% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on SO shares. Mizuho reiterated an “underperform” rating and issued a $57.00 price objective (down previously from $59.00) on shares of The Southern in a report on Friday, June 25th. Wells Fargo & Company increased their target price on shares of The Southern from $71.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Morgan Stanley decreased their target price on shares of The Southern from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Tuesday. Barclays increased their target price on shares of The Southern from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Finally, Credit Suisse Group reissued a “buy” rating on shares of The Southern in a research report on Wednesday, May 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.85.
About The Southern
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 and battery energy storage projects 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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