Catawba Capital Management VA Acquires 122 Shares of Southern Company (The) (SO)

Catawba Capital Management VA increased its position in Southern Company (The) (NYSE:SO) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,306 shares of the utilities provider’s stock after purchasing an additional 122 shares during the quarter. Catawba Capital Management VA’s holdings in Southern Company (The) were worth $1,930,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Symmetry Partners LLC acquired a new position in shares of Southern Company (The) in the 1st quarter valued at approximately $103,000. Stuart Chaussee & Associates Inc. grew its position in shares of Southern Company (The) by 358.8% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 1,740 shares during the period. IHT Wealth Management LLC grew its position in shares of Southern Company (The) by 15.3% in the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 302 shares during the period. AlphaMark Advisors LLC grew its position in shares of Southern Company (The) by 115.7% in the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 1,260 shares during the period. Finally, Ruggie Capital Group lifted its stake in Southern Company (The) by 228.0% in the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 1,792 shares in the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.

SO has been the topic of several research reports. Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. BidaskClub cut Southern Company (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Macquarie upgraded Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 price objective on the stock in a research note on Monday, July 10th. Morgan Stanley dropped their price objective on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a research note on Friday, June 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of Southern Company (The) in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.63.

Southern Company (NYSE:SO) opened at 48.82 on Friday. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.73. The firm has a 50-day moving average price of $48.99 and a 200 day moving average price of $49.45. The company has a market capitalization of $48.79 billion, a P/E ratio of 80.30 and a beta of 0.13.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. On average, analysts predict that Southern Company will post $2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.32 annualized dividend and a yield of 4.75%. Southern Company (The)’s dividend payout ratio is currently 346.27%.

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In related news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the transaction, the executive vice president now owns 85,298 shares in the company, valued at $4,204,338.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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