Hexavest Inc. Raises Position in Southern Co (SO)

Hexavest Inc. raised its holdings in shares of Southern Co (NYSE:SO) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,859,041 shares of the utilities provider’s stock after acquiring an additional 35,075 shares during the quarter. Southern makes up 1.0% of Hexavest Inc.’s portfolio, making the stock its 20th largest holding. Hexavest Inc. owned 0.19% of Southern worth $89,401,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SO. Janus Henderson Group PLC lifted its stake in shares of Southern by 3,580.1% during the 2nd quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after buying an additional 4,546,503 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Southern by 25.3% during the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Southern by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock valued at $3,402,047,000 after buying an additional 2,295,466 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in shares of Southern by 1,565.3% during the 3rd quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock valued at $59,048,000 after buying an additional 1,633,990 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Southern by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares in the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.

In other news, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $52.28, for a total value of $261,400.00. Following the sale, the insider now directly owns 7,394 shares in the company, valued at approximately $386,558.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.28, for a total transaction of $270,662.40. Following the completion of the sale, the insider now owns 7,474 shares in the company, valued at $398,214.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,662 shares of company stock worth $6,772,438. 0.74% of the stock is currently owned by insiders.

Shares of Southern Co (SO) traded down $0.71 during midday trading on Friday, reaching $45.25. 6,867,800 shares of the company’s stock were exchanged, compared to its average volume of 6,578,362. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The company has a market cap of $45,000.00, a P/E ratio of 80.80, a P/E/G ratio of 3.45 and a beta of 0.14. Southern Co has a one year low of $45.08 and a one year high of $53.51.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. Southern’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. equities analysts anticipate that Southern Co will post 2.96 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Southern in a research note on Friday. They set an “underweight” rating and a $46.00 target price on the stock. Goldman Sachs Group restated a “sell” rating on shares of Southern in a research note on Wednesday. SunTrust Banks set a $49.00 target price on shares of Southern and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Guggenheim restated a “buy” rating and set a $52.00 target price on shares of Southern in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Southern in a report on Friday, December 22nd. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $51.20.

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Southern Profile

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 (NYSE:SO)

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