Carret Asset Management LLC Trims Holdings in Southern Co (NYSE:SO)

Carret Asset Management LLC decreased its position in Southern Co (NYSE:SO) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,452 shares of the utilities provider’s stock after selling 3,375 shares during the quarter. Carret Asset Management LLC’s holdings in Southern were worth $5,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Iberiabank Corp increased its holdings in Southern by 6.5% in the 3rd quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock worth $7,437,000 after buying an additional 9,232 shares in the last quarter. Synovus Financial Corp increased its holdings in Southern by 7.2% in the 3rd quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock worth $45,761,000 after buying an additional 62,321 shares in the last quarter. Captrust Financial Advisors bought a new stake in Southern in the 2nd quarter worth about $854,000. Asset Management One Co. Ltd. increased its holdings in Southern by 1.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,660,838 shares of the utilities provider’s stock worth $81,592,000 after buying an additional 22,233 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in Southern by 4.3% in the 2nd quarter. Fiera Capital Corp now owns 34,294 shares of the utilities provider’s stock worth $1,642,000 after buying an additional 1,399 shares in the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.

Southern Co (SO) traded down $0.41 during mid-day trading on Friday, hitting $44.84. The stock had a trading volume of 8,590,196 shares, compared to its average volume of 5,738,723. Southern Co has a 12-month low of $44.44 and a 12-month high of $53.51. 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 stock has a market cap of $45,414.17, a PE ratio of 80.07, a P/E/G ratio of 3.34 and a beta of 0.14.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm earned $1.27 EPS. equities analysts forecast that Southern Co will post 2.96 earnings per share for the current year.

In other Southern news, VP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the sale, the vice president now owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of Southern stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 128,662 shares of company stock worth $6,772,438 in the last three months. 1.00% of the stock is owned by corporate insiders.

Several research firms recently commented on SO. JPMorgan Chase & Co. started coverage on Southern in a report on Friday. They issued an “underweight” rating and a $46.00 price objective for the company. Royal Bank of Canada reissued a “buy” rating on shares of Southern in a research report on Friday, December 22nd. Guggenheim reissued a “buy” rating and issued a $52.00 target price on shares of Southern in a research report on Wednesday, January 3rd. SunTrust Banks set a $49.00 target price on Southern and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Finally, Mizuho reissued a “buy” rating and issued a $52.00 target price on shares of Southern in a research report on Tuesday, December 26th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $51.20.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/13/carret-asset-management-llc-has-5-13-million-holdings-in-southern-company-the-so.html.

Southern Company 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)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply