Columbus Macro LLC Lowers Stake in The Southern Company (NYSE:SO)

Columbus Macro LLC reduced its holdings in shares of The Southern Company (NYSE:SOFree Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,031 shares of the utilities provider’s stock after selling 673 shares during the period. Columbus Macro LLC’s holdings in Southern were worth $935,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new stake in shares of Southern in the fourth quarter valued at about $1,945,000. Sanibel Captiva Trust Company Inc. acquired a new position in Southern during the fourth quarter worth about $16,067,000. Angeles Investment Advisors LLC raised its position in shares of Southern by 13.3% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,202 shares of the utilities provider’s stock valued at $365,000 after buying an additional 612 shares during the last quarter. Savant Capital LLC raised its position in shares of Southern by 4.3% in the fourth quarter. Savant Capital LLC now owns 65,937 shares of the utilities provider’s stock valued at $4,624,000 after buying an additional 2,691 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its position in shares of Southern by 4.8% in the fourth quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider’s stock valued at $241,000 after buying an additional 157 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Southern Price Performance

Shares of SO traded down $1.32 during mid-day trading on Tuesday, hitting $78.02. 3,008,016 shares of the company traded hands, compared to its average volume of 4,674,095. The Southern Company has a one year low of $61.56 and a one year high of $80.84. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average of $76.95 and a 200 day moving average of $72.09. The stock has a market capitalization of $85.31 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.83 and a beta of 0.51.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Southern’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that The Southern Company will post 3.99 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were issued a $0.72 dividend. The ex-dividend date was Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 3.69%. Southern’s dividend payout ratio (DPR) is 74.42%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho upped their price target on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Argus upped their price target on shares of Southern from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Wells Fargo & Company increased their price target on Southern from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Bank of America boosted their price objective on Southern from $73.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Finally, Scotiabank dropped their target price on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.14.

Read Our Latest Stock Analysis on SO

Southern Company 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.

See Also

Institutional Ownership by Quarter for Southern (NYSE:SO)

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