Univest Corp of Pennsylvania raised its stake in shares of Southern Co. (NYSE:SO) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,471 shares of the company’s stock after buying an additional 294 shares during the period. Univest Corp of Pennsylvania’s holdings in Southern were worth $435,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. World Asset Management Inc boosted its stake in Southern by 3.5% in the second quarter. World Asset Management Inc now owns 96,154 shares of the company’s stock valued at $5,157,000 after buying an additional 3,246 shares in the last quarter. National Pension Service boosted its stake in Southern by 8.8% in the third quarter. National Pension Service now owns 585,911 shares of the company’s stock valued at $30,057,000 after buying an additional 47,146 shares in the last quarter. Huntington National Bank boosted its stake in Southern by 167.6% in the second quarter. Huntington National Bank now owns 255,875 shares of the company’s stock valued at $13,723,000 after buying an additional 160,243 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Southern by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 10,577,864 shares of the company’s stock valued at $567,291,000 after buying an additional 57,511 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Southern by 4.7% in the third quarter. BNP Paribas Arbitrage SA now owns 404,860 shares of the company’s stock valued at $20,769,000 after buying an additional 18,197 shares in the last quarter. 50.43% of the stock is owned by institutional investors.
Shares of Southern Co. (NYSE:SO) traded up 0.02% on Friday, hitting $49.06. The company’s stock had a trading volume of 3,598,528 shares. The stock’s 50-day moving average price is $48.45 and its 200-day moving average price is $50.82. The firm has a market cap of $48.08 billion, a price-to-earnings ratio of 18.42 and a beta of 0.04. Southern Co. has a 52 week low of $46.20 and a 52 week high of $54.64.
Southern (NYSE:SO) last posted its earnings results on Monday, October 31st. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $3.41 billion. Southern had a return on equity of 12.69% and a net margin of 14.14%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. Equities analysts expect that Southern Co. will post $2.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 6th. Shareholders of record on Tuesday, February 21st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, February 16th. Southern’s dividend payout ratio is 83.27%.
Several equities research analysts have recently weighed in on SO shares. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 27th. RBC Capital Markets reissued a “hold” rating and issued a $54.00 price objective on shares of Southern in a research report on Wednesday, January 4th. SunTrust Banks Inc. increased their price objective on Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, September 26th. Finally, Citigroup Inc. started coverage on Southern in a research report on Thursday, December 15th. They issued a “sell” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Southern presently has an average rating of “Hold” and an average price target of $52.88.
In other Southern news, CEO William P. Bowers sold 70,680 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $48.88, for a total value of $3,454,838.40. Following the transaction, the chief executive officer now directly owns 122,669 shares of the company’s stock, valued at approximately $5,996,060.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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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