Southern Co (SO) Holdings Lifted by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB raised its holdings in shares of Southern Co (NYSE:SO) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,181 shares of the utilities provider’s stock after buying an additional 10,028 shares during the period. Xact Kapitalforvaltning AB’s holdings in Southern were worth $4,608,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Boys Arnold & Co. Inc. raised its stake in shares of Southern by 10.8% during the first quarter. Boys Arnold & Co. Inc. now owns 12,322 shares of the utilities provider’s stock valued at $557,000 after acquiring an additional 1,199 shares in the last quarter. Willis Investment Counsel raised its stake in shares of Southern by 0.6% during the first quarter. Willis Investment Counsel now owns 199,640 shares of the utilities provider’s stock valued at $8,916,000 after acquiring an additional 1,200 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Southern by 47.2% during the first quarter. Jacobi Capital Management LLC now owns 3,743 shares of the utilities provider’s stock valued at $165,000 after acquiring an additional 1,201 shares in the last quarter. Griffin Asset Management Inc. raised its stake in shares of Southern by 2.4% during the first quarter. Griffin Asset Management Inc. now owns 52,989 shares of the utilities provider’s stock valued at $2,366,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Secrest Blakey & Associates LLC raised its stake in shares of Southern by 7.8% during the first quarter. Secrest Blakey & Associates LLC now owns 17,374 shares of the utilities provider’s stock valued at $776,000 after acquiring an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 56.79% of the company’s stock.

Several analysts have recently weighed in on SO shares. Deutsche Bank decreased their price target on shares of Southern from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. SunTrust Banks set a $45.00 price target on shares of Southern and gave the company a “hold” rating in a research note on Friday, February 23rd. Guggenheim reaffirmed a “buy” rating and set a $51.00 price target on shares of Southern in a research note on Friday, February 23rd. Credit Suisse Group reaffirmed an “underperform” rating and set a $45.00 price target (down previously from $46.00) on shares of Southern in a research note on Tuesday, February 27th. Finally, Morgan Stanley decreased their price target on shares of Southern from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, March 8th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.90.

Shares of Southern opened at $45.29 on Friday, Marketbeat reports. The company has a market capitalization of $45.57 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 3.45 and a beta of 0.03. Southern Co has a 52 week low of $42.38 and a 52 week high of $53.51. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 1.71.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $5.98 billion. Southern had a return on equity of 12.97% and a net margin of 4.88%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. sell-side analysts predict that Southern Co will post 2.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 6th. Stockholders of record on Monday, May 21st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 18th. This is an increase from Southern’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.30%. Southern’s dividend payout ratio is presently 79.47%.

Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

Institutional Ownership by Quarter for Southern (NYSE:SO)

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