Seaward Management Limited Partnership maintained its position in Southern Co. (NYSE:SO) during the second quarter, Holdings Channel reports. The institutional investor owned 11,251 shares of the company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Southern were worth $603,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SO. MCF Advisors LLC boosted its position in Southern by 89.2% in the first quarter. MCF Advisors LLC now owns 2,543 shares of the company’s stock valued at $132,000 after buying an additional 1,199 shares during the period. Zions Bancorporation boosted its position in Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock valued at $132,000 after buying an additional 32 shares during the period. Barnett & Company Inc. purchased a new position in Southern during the first quarter valued at approximately $155,000. Cribstone Capital Management LLC purchased a new position in Southern during the second quarter valued at approximately $184,000. Finally, Montrusco Bolton Investments Inc. boosted its position in Southern by 0.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 3,880 shares of the company’s stock valued at $208,000 after buying an additional 20 shares during the period. Institutional investors own 48.64% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded up 0.09% during trading on Friday, reaching $53.53. 4,282,665 shares of the company’s stock were exchanged. Southern Co. has a 52 week low of $43.38 and a 52 week high of $54.64. The stock has a market capitalization of $50.40 billion, a PE ratio of 21.25 and a beta of 0.05. The company’s 50-day moving average is $51.98 and its 200 day moving average is $51.32.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts forecast that Southern Co. will post $2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.18%. Southern’s dividend payout ratio is currently 87.50%.
Several research analysts have recently issued reports on SO shares. Jefferies Group restated a “hold” rating on shares of Southern in a report on Thursday, August 4th. Argus restated a “buy” rating on shares of Southern in a report on Wednesday, June 15th. SunTrust Banks Inc. lowered their target price on shares of Southern from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Mizuho upped their target price on shares of Southern from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $54.00 target price on shares of Southern in a report on Thursday, July 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.32.
In other news, CEO Stan W. Connally sold 14,392 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $53.75, for a total transaction of $773,570.00. Following the completion of the sale, the chief executive officer now owns 17,716 shares of the company’s stock, valued at $952,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark A. Crosswhite sold 167,273 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.30, for a total transaction of $8,915,650.90. Following the sale, the chief executive officer now directly owns 171,983 shares of the company’s stock, valued at approximately $9,166,693.90. 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.
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