Buck Wealth Strategies LLC Reduces Holdings in The Southern Company (NYSE:SO)

Buck Wealth Strategies LLC cut its position in shares of The Southern Company (NYSE:SOFree Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the utilities provider’s stock after selling 282 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Southern were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SO. Norges Bank purchased a new stake in Southern in the fourth quarter valued at approximately $435,979,000. Moneta Group Investment Advisors LLC purchased a new stake in Southern in the fourth quarter valued at approximately $369,131,000. Ameriprise Financial Inc. grew its holdings in Southern by 38.5% in the third quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock valued at $488,461,000 after purchasing an additional 2,096,988 shares during the period. Imprint Wealth LLC grew its holdings in Southern by 5,840.2% in the second quarter. Imprint Wealth LLC now owns 1,949,392 shares of the utilities provider’s stock valued at $194,939,000 after purchasing an additional 1,916,575 shares during the period. Finally, FMR LLC grew its holdings in Southern by 5.0% in the third quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock valued at $2,518,045,000 after purchasing an additional 1,838,857 shares during the period. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Southern

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the transaction, the chief executive officer now owns 129,552 shares in the company, valued at approximately $8,672,210.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the sale, the chief executive officer now directly owns 129,552 shares of the company’s stock, valued at approximately $8,672,210.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the sale, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The disclosure for this sale can be found here. Insiders sold 25,998 shares of company stock worth $1,806,063 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SO. Barclays reduced their price target on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. Mizuho lifted their price target on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $76.00 target price (up from $72.00) on shares of Southern in a research report on Monday. Citigroup assumed coverage on shares of Southern in a research report on Friday, December 8th. They set a “buy” rating and a $82.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of Southern in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Southern presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Read Our Latest Stock Report on Southern

Southern Stock Performance

SO stock traded up $0.25 during trading on Tuesday, hitting $71.35. 3,829,476 shares of the company’s stock traded hands, compared to its average volume of 4,572,321. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The Southern Company has a 52 week low of $61.56 and a 52 week high of $75.80. The stock has a fifty day moving average price of $68.59 and a two-hundred day moving average price of $68.89. The stock has a market capitalization of $77.84 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 4.48 and a beta of 0.49.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts anticipate that The Southern Company will post 4 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.92%. Southern’s dividend payout ratio is presently 77.14%.

Southern Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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