Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Southern Co (NYSE:SO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,971 shares of the utilities provider’s stock, valued at approximately $1,347,000.
A number of other large investors have also recently modified their holdings of SO. Keebeck Wealth Management LLC acquired a new stake in Southern in the second quarter valued at approximately $29,000. Legacy Bridge LLC acquired a new stake in Southern in the second quarter valued at approximately $31,000. MV Capital Management Inc. raised its holdings in Southern by 562.0% in the second quarter. MV Capital Management Inc. now owns 662 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 562 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in Southern by 454.4% in the first quarter. Prestige Wealth Management Group LLC now owns 693 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 568 shares in the last quarter. Finally, Perennial Advisors LLC acquired a new stake in Southern in the first quarter valued at approximately $43,000. 57.29% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $59.26, for a total value of $148,150.00. Following the sale, the chief executive officer now directly owns 79,496 shares in the company, valued at approximately $4,710,932.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Y. Kerr II sold 50,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $59.41, for a total transaction of $2,970,500.00. Following the completion of the sale, the executive vice president now owns 117,206 shares in the company, valued at $6,963,208.46. The disclosure for this sale can be found here. Insiders have sold a total of 57,500 shares of company stock worth $3,393,650 over the last 90 days. Insiders own 0.39% of the company’s stock.
Shares of NYSE SO traded down $0.25 during trading on Monday, hitting $52.17. 39,354 shares of the company were exchanged, compared to its average volume of 5,233,916. The company has a market cap of $55.36 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 4.15 and a beta of 0.42. Southern Co has a 1 year low of $41.96 and a 1 year high of $71.10. The firm’s fifty day moving average price is $53.85 and its 200 day moving average price is $56.54. 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 (NYSE:SO) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.93 billion. Southern had a net margin of 15.83% and a return on equity of 10.47%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, research analysts forecast that Southern Co will post 3.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.56 annualized dividend and a dividend yield of 4.91%. Southern’s payout ratio is currently 82.32%.
A number of analysts have weighed in on the stock. Seaport Global Securities assumed coverage on shares of Southern in a report on Wednesday, May 20th. They set a “buy” rating and a $60.00 price objective on the stock. KeyCorp cut their price objective on shares of Southern from $71.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Mizuho cut their price objective on shares of Southern from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, July 22nd. Credit Suisse Group raised shares of Southern from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $60.00 to $61.00 in a report on Monday, May 4th. Finally, Zacks Investment Research cut shares of Southern from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a report on Tuesday, May 5th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Southern presently has an average rating of “Hold” and an average 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.
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