Nomura Asset Management Co. Ltd. Has $24.18 Million Holdings in The Southern Company (NYSE:SO)

Nomura Asset Management Co. Ltd. raised its holdings in The Southern Company (NYSE:SO) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,773 shares of the utilities provider’s stock after acquiring an additional 10,767 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Southern were worth $24,175,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in Southern during the 4th quarter worth approximately $34,000. Valley National Advisers Inc. lifted its stake in shares of Southern by 63.9% in the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 205 shares during the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in shares of Southern by 46.3% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 556 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 176 shares in the last quarter. Atticus Wealth Management LLC grew its position in Southern by 30.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 652 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 152 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Southern by 62.5% in the 3rd quarter. Larson Financial Group LLC now owns 689 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 265 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SO shares. UBS Group cut Southern from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $76.00 in a report on Thursday, April 4th. Bank of America upped their price target on shares of Southern from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price target on shares of Southern in a report on Wednesday, February 21st. BMO Capital Markets restated an “outperform” rating and issued a $76.00 price objective (up from $72.00) on shares of Southern in a report on Monday, April 1st. Finally, Argus lifted their target price on Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Southern currently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

Southern Trading Up 0.8 %

NYSE SO traded up $0.58 during trading hours on Friday, hitting $77.75. 2,424,732 shares of the company’s stock were exchanged, compared to its average volume of 5,115,094. The Southern Company has a 1-year low of $61.56 and a 1-year high of $80.14. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock has a 50-day simple moving average of $73.40 and a 200 day simple moving average of $70.79. The firm has a market cap of $85.11 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 3.22 and a beta of 0.48.

Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $0.79 earnings per share. On average, equities analysts forecast that The Southern Company will post 3.99 EPS for the current fiscal year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio (DPR) is 74.42%.

Insider Activity

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the transaction, the chief executive officer now directly owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy 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, gas distribution operations, and gas pipeline investments operations.