City Holding Co. Purchases 2,563 Shares of Southern Co (NYSE:SO)

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City Holding Co. grew its position in shares of Southern Co (NYSE:SO) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,415 shares of the utilities provider’s stock after acquiring an additional 2,563 shares during the period. City Holding Co.’s holdings in Southern were worth $3,423,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Pettyjohn Wood & White Inc. boosted its holdings in Southern by 0.3% during the 2nd quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock valued at $3,366,000 after acquiring an additional 175 shares during the period. Confluence Wealth Management LLC boosted its holdings in Southern by 2.2% during the 2nd quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock valued at $445,000 after acquiring an additional 175 shares during the period. 6 Meridian boosted its holdings in Southern by 1.8% during the 2nd quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock valued at $568,000 after acquiring an additional 181 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Southern by 0.8% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock valued at $1,296,000 after acquiring an additional 186 shares during the period. Finally, St. Johns Investment Management Company LLC boosted its holdings in Southern by 1.9% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 10,573 shares of the utilities provider’s stock valued at $584,000 after acquiring an additional 195 shares during the period. Hedge funds and other institutional investors own 58.38% of the company’s stock.

SO has been the subject of several analyst reports. Bank of America increased their target price on Southern from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Morgan Stanley dropped their price objective on Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a report on Friday, August 16th. ValuEngine cut Southern from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. UBS Group increased their price objective on Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, SunTrust Banks set a $59.00 price objective on Southern and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $55.70.

NYSE SO traded down $0.09 on Tuesday, hitting $60.83. The company’s stock had a trading volume of 168,594 shares, compared to its average volume of 3,989,760. Southern Co has a 52-week low of $42.50 and a 52-week high of $62.36. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 1.33. The company’s 50-day simple moving average is $60.42 and its 200 day simple moving average is $56.08. The firm has a market cap of $64.00 billion, a P/E ratio of 19.82, a PEG ratio of 4.49 and a beta of 0.16.

Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. Southern had a return on equity of 10.04% and a net margin of 20.18%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter last year, the business posted $0.80 EPS. The business’s revenue was down 9.4% on a year-over-year basis. On average, research analysts forecast that Southern Co will post 3.04 EPS for the current fiscal year.

In other news, CEO Stephen E. Kuczynski sold 123,533 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $61.87, for a total value of $7,642,986.71. Following the completion of the transaction, the chief executive officer now owns 191,305 shares in the company, valued at approximately $11,836,040.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.51, for a total value of $115,020.00. Following the completion of the transaction, the chief executive officer now owns 71,772 shares of the company’s stock, valued at approximately $4,127,607.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,533 shares of company stock valued at $12,386,567. Company insiders own 0.88% of the company’s stock.

Southern Profile

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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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).

Institutional Ownership by Quarter for Southern (NYSE:SO)

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