Huntington National Bank trimmed its holdings in shares of Southern Co (NYSE:SO) by 13.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 159,752 shares of the utilities provider’s stock after selling 25,743 shares during the period. Huntington National Bank’s holdings in Southern were worth $6,965,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Kaizen Advisory LLC lifted its holdings in Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 1,307 shares during the last quarter. Destination Wealth Management lifted its holdings in Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 1,811 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Southern during the 2nd quarter valued at about $119,000. Horan Capital Advisors LLC. bought a new position in Southern during the 2nd quarter valued at about $121,000. Finally, Sound Income Strategies LLC lifted its holdings in Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,299 shares during the last quarter. 57.34% of the stock is owned by institutional investors.
In other news, EVP Christopher C. Womack sold 16,371 shares of Southern stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the sale, the executive vice president now owns 10,165 shares in the company, valued at approximately $481,821. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.73% of the stock is owned by insiders.
Shares of NYSE:SO opened at $45.07 on Friday. Southern Co has a one year low of $42.38 and a one year high of $53.51. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $44.94 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 3.29 and a beta of -0.05.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. Southern had a net margin of 9.96% and a return on equity of 13.06%. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the company earned $0.73 EPS. Southern’s revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Southern Co will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, November 16th. Southern’s dividend payout ratio is 79.47%.
SO has been the subject of several analyst reports. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, October 9th. Barclays downgraded shares of Southern from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $51.00 to $48.00 in a report on Thursday, August 9th. Scotiabank restated a “hold” rating and issued a $44.00 price objective on shares of Southern in a research report on Thursday, August 9th. SunTrust Banks restated a “hold” rating and issued a $50.00 price objective on shares of Southern in a research report on Monday, August 6th. Finally, ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $46.04.
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.
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