Court Place Advisors LLC continued to hold its stake in shares of Southern Co. (NYSE:SO) during the second quarter, Holdings Channel reports. The institutional investor owned 9,480 shares of the company’s stock at the end of the second quarter. Court Place Advisors LLC’s holdings in Southern were worth $508,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in SO. Rehmann Capital Advisory Group raised its stake in shares of Southern by 46.9% in the second quarter. Rehmann Capital Advisory Group now owns 18,697 shares of the company’s stock worth $1,003,000 after buying an additional 5,973 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Southern by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 61,600 shares of the company’s stock worth $3,304,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Southern during the second quarter worth about $77,486,000. Financial Architects Inc raised its stake in shares of Southern by 10.0% in the second quarter. Financial Architects Inc now owns 17,203 shares of the company’s stock worth $923,000 after buying an additional 1,569 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of Southern by 2.3% in the second quarter. Shell Asset Management Co. now owns 608,351 shares of the company’s stock worth $32,626,000 after buying an additional 13,696 shares during the last quarter. 48.64% of the stock is currently owned by institutional investors.
Southern Co. (NYSE:SO) traded up 0.56% during trading on Thursday, reaching $53.48. 4,134,084 shares of the company’s stock traded hands. Southern Co. has a 1-year low of $43.36 and a 1-year high of $54.64. The stock has a 50-day moving average price of $51.97 and a 200 day moving average price of $51.28. The stock has a market capitalization of $50.36 billion, a P/E ratio of 21.23 and a beta of 0.05.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. Southern’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. Equities research analysts expect that Southern Co. will post $2.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Thursday, August 11th. Southern’s dividend payout ratio is presently 87.50%.
A number of analysts have issued reports on the company. SunTrust Banks Inc. cut their target price on Southern from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research report on Thursday, August 4th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $54.00 price objective on shares of Southern in a research report on Thursday, July 14th. Barclays PLC raised Southern from an “equal weight” rating to an “overweight” rating and upped their price objective 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. Finally, Mizuho upped their price objective on Southern from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.32.
In other news, CFO Art P. Beattie sold 62,587 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $52.00, for a total value of $3,254,524.00. Following the transaction, the chief financial officer now owns 75,140 shares of the company’s stock, valued at approximately $3,907,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher C. Womack sold 46,008 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the completion of the transaction, the executive vice president now directly owns 56,149 shares in the company, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
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.
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