State Board of Administration of Florida Retirement System decreased its holdings in Southern Co (NYSE:SO) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,486,283 shares of the utilities provider’s stock after selling 4,967 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Southern were worth $77,064,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of SO. Pictet Asset Management Ltd. lifted its position in shares of Southern by 29.0% during the 1st quarter. Pictet Asset Management Ltd. now owns 6,930,066 shares of the utilities provider’s stock valued at $375,194,000 after acquiring an additional 1,559,259 shares during the period. Prudential PLC raised its position in shares of Southern by 4,124.1% in the 1st quarter. Prudential PLC now owns 1,269,779 shares of the utilities provider’s stock worth $68,746,000 after purchasing an additional 1,239,719 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Southern by 43.2% in the 1st quarter. APG Asset Management N.V. now owns 3,848,778 shares of the utilities provider’s stock worth $208,373,000 after purchasing an additional 1,161,563 shares during the last quarter. Swiss National Bank raised its position in shares of Southern by 20.8% in the 1st quarter. Swiss National Bank now owns 5,484,919 shares of the utilities provider’s stock worth $296,954,000 after purchasing an additional 943,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Southern by 3.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 26,943,465 shares of the utilities provider’s stock worth $1,458,719,000 after purchasing an additional 940,199 shares during the last quarter. Institutional investors and hedge funds own 58.82% of the company’s stock.
In other Southern news, EVP James Y. Kerr II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $59.41, for a total value of $2,970,500.00. Following the completion of the transaction, the executive vice president now directly owns 117,206 shares in the company, valued at approximately $6,963,208.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $59.26, for a total value of $148,150.00. Following the completion of the transaction, the chief executive officer now owns 79,496 shares of the company’s stock, valued at $4,710,932.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,500 shares of company stock valued at $3,393,650. 0.39% of the stock is currently owned by corporate insiders.
Shares of NYSE:SO traded down $1.01 during mid-day trading on Thursday, reaching $52.18. 60,343 shares of the company traded hands, compared to its average volume of 3,821,894. The company’s 50 day moving average price is $53.87 and its 200-day moving average price is $57.33. The firm has a market cap of $56.03 billion, a PE ratio of 17.22, a PEG ratio of 4.21 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.97 and a quick ratio of 0.75. Southern Co has a 52 week low of $41.96 and a 52 week high of $71.10.
Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.11. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.93 billion. Southern had a return on equity of 10.47% and a net margin of 15.83%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, research analysts predict that Southern Co will post 3.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a dividend of $0.64 per share. The ex-dividend date is Friday, August 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.91%. Southern’s dividend payout ratio (DPR) is presently 82.32%.
SO has been the subject of several recent analyst reports. Zacks Investment Research lowered Southern from a “buy” rating to a “hold” rating and set a $59.00 price target for the company. in a research report on Tuesday, May 5th. Morgan Stanley boosted their target price on Southern from $53.00 to $55.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Seaport Global Securities initiated coverage on Southern in a research report on Wednesday, May 20th. They issued a “buy” rating and a $60.00 target price for the company. Mizuho decreased their target price on Southern from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, July 22nd. Finally, KeyCorp decreased their target price on Southern from $71.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.16.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
Recommended Story: Day Trading
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.