Cape Cod Five Cents Savings Bank cut its position in Southern Co (NYSE:SO) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,712 shares of the utilities provider’s stock after selling 1,335 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Southern were worth $1,039,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Lebenthal Asset Management LLC raised its stake in Southern by 1.5% in the fourth quarter. Lebenthal Asset Management LLC now owns 51,134 shares of the utilities provider’s stock valued at $2,515,000 after buying an additional 771 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Southern during the fourth quarter worth $865,000. Independent Advisor Alliance purchased a new stake in Southern during the fourth quarter worth $2,741,000. Archford Capital Strategies LLC raised its stake in Southern by 14.6% in the fourth quarter. Archford Capital Strategies LLC now owns 20,543 shares of the utilities provider’s stock worth $1,010,000 after buying an additional 2,619 shares in the last quarter. Finally, Heritage Way Advisors LLC purchased a new stake in Southern during the fourth quarter worth $1,680,000. Hedge funds and other institutional investors own 53.57% of the company’s stock.
Southern Co (NYSE:SO) traded down 0.80% during midday trading on Friday, reaching $48.42. 3,227,618 shares of the company were exchanged. Southern Co has a 52 week low of $46.20 and a 52 week high of $53.73. The company has a market capitalization of $48.39 billion, a PE ratio of 79.64 and a beta of 0.12. The firm has a 50-day moving average price of $48.08 and a 200-day moving average price of $49.46.
Southern (NYSE:SO) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. Southern had a negative net margin of 24.83% and a negative return on equity of 22.86%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. Equities research analysts anticipate that Southern Co will post $2.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.79%. Southern’s payout ratio is currently 346.27%.
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SO has been the subject of several research analyst reports. Deutsche Bank AG upgraded shares of Southern from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $52.00 in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Royal Bank Of Canada reissued a “hold” rating and set a $53.00 price target on shares of Southern in a research report on Monday, July 31st. Barclays PLC reissued a “buy” rating and set a $55.00 price target on shares of Southern in a research report on Friday, May 5th. Finally, BidaskClub downgraded shares of Southern from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.79.
In related news, CEO Mark Lantrip sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the completion of the sale, the chief executive officer now owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at approximately $379,164.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,084 shares of company stock worth $7,665,158. Insiders own 1.00% of the company’s stock.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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