Concert Wealth Management Inc. boosted its stake in shares of Southern Co. (NYSE:SO) by 77.5% during the second quarter, Holdings Channel reports. The institutional investor owned 39,232 shares of the company’s stock after buying an additional 17,135 shares during the period. Concert Wealth Management Inc.’s holdings in Southern were worth $2,103,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. New England Professional Planning Group Inc. increased its position in Southern by 11.3% in the second quarter. New England Professional Planning Group Inc. now owns 5,012 shares of the company’s stock worth $273,000 after buying an additional 510 shares during the period. Morgan Dempsey Capital Management LLC increased its position in Southern by 27.4% in the second quarter. Morgan Dempsey Capital Management LLC now owns 43,220 shares of the company’s stock worth $2,318,000 after buying an additional 9,296 shares during the period. Savant Capital LLC increased its position in Southern by 0.3% in the second quarter. Savant Capital LLC now owns 12,930 shares of the company’s stock worth $693,000 after buying an additional 34 shares during the period. Sabal Trust CO increased its position in Southern by 3.1% in the second quarter. Sabal Trust CO now owns 440,062 shares of the company’s stock worth $23,601,000 after buying an additional 13,372 shares during the period. Finally, Huntington National Bank increased its position in Southern by 167.6% in the second quarter. Huntington National Bank now owns 255,875 shares of the company’s stock worth $13,723,000 after buying an additional 160,243 shares during the period. Institutional investors own 48.64% of the company’s stock.
Southern Co. (NYSE:SO) traded up 0.61% on Monday, hitting $49.46. 2,158,909 shares of the stock were exchanged. The firm has a market cap of $46.57 billion, a P/E ratio of 19.63 and a beta of 0.08. The company has a 50-day moving average of $51.67 and a 200 day moving average of $51.39. Southern Co. has a 12 month low of $43.38 and a 12 month high of $54.64.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Southern had a net margin of 13.77% and a return on equity of 12.50%. The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that Southern Co. will post $2.86 earnings per share for the current fiscal year.
Several equities analysts have commented on SO shares. SunTrust Banks Inc. lifted their target price on shares of Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, September 26th. Mizuho lifted their target price on shares of Southern from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 12th. Barclays PLC raised shares of Southern from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $62.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, September 27th. Finally, Jefferies Group lifted their target price on shares of Southern from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Southern currently has a consensus rating of “Hold” and a consensus target price of $53.50.
In other Southern news, EVP Christopher C. Womack sold 46,008 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total value of $2,456,827.20. Following the transaction, the executive vice president now directly owns 56,149 shares in the company, valued at $2,998,356.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stan W. Connally sold 14,392 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $53.75, for a total transaction of $773,570.00. Following the completion of the transaction, the chief executive officer now owns 17,716 shares in the company, valued at $952,235. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co. (NYSE:SO).
Receive News & Ratings for Southern Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Co. and related companies with MarketBeat.com's FREE daily email newsletter.