Rockland Trust Co. raised its holdings in shares of Southern Co (NYSE:SO) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 369,385 shares of the utilities provider’s stock after purchasing an additional 2,471 shares during the quarter. Southern accounts for approximately 2.3% of Rockland Trust Co.’s investment portfolio, making the stock its 8th largest holding. Rockland Trust Co.’s holdings in Southern were worth $17,764,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new position in Southern in the second quarter worth about $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Southern in the third quarter worth about $105,000. Monroe Bank & Trust MI raised its holdings in Southern by 17.9% in the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 350 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in Southern by 0.6% in the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 14 shares in the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Southern during the third quarter worth about $118,000. Institutional investors and hedge funds own 53.66% of the company’s stock.
Shares of Southern Co (NYSE SO) traded down $0.65 during mid-day trading on Thursday, hitting $45.96. The stock had a trading volume of 7,195,800 shares, compared to its average volume of 6,537,014. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The firm has a market cap of $45,350.00, a P/E ratio of 82.07, a price-to-earnings-growth ratio of 3.45 and a beta of 0.14. Southern Co has a twelve month low of $45.81 and a twelve month high of $53.51.
Southern (NYSE:SO) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 EPS. research analysts forecast that Southern Co will post 2.96 EPS for the current year.
SO has been the topic of a number of research analyst reports. Guggenheim upgraded Southern from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $56.00 in a research note on Thursday, September 14th. Citigroup reiterated a “sell” rating and issued a $44.00 target price (up previously from $43.00) on shares of Southern in a research report on Tuesday, October 3rd. Zacks Investment Research lowered Southern from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. SunTrust Banks reiterated a “hold” rating and issued a $50.00 target price on shares of Southern in a research report on Tuesday, December 26th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Southern in a research report on Friday, December 22nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $49.25.
In other Southern news, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total value of $261,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares in the company, valued at approximately $386,558.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $52.16, for a total value of $1,304,000.00. Following the completion of the sale, the vice president now owns 26,000 shares of the company’s stock, valued at $1,356,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,662 shares of company stock valued at $6,772,438. Corporate insiders own 0.74% of the company’s stock.
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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.
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