Horseman Capital Management Ltd Takes Position in Southern Co (NYSE:SO)

Horseman Capital Management Ltd bought a new stake in Southern Co (NYSE:SO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,000 shares of the utilities provider’s stock, valued at approximately $1,216,000. Southern makes up approximately 0.8% of Horseman Capital Management Ltd’s holdings, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of SO. Dimensional Fund Advisors LP lifted its position in Southern by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,922,644 shares of the utilities provider’s stock valued at $84,443,000 after purchasing an additional 105,232 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Southern by 10.3% during the fourth quarter. Geode Capital Management LLC now owns 12,763,112 shares of the utilities provider’s stock worth $559,911,000 after acquiring an additional 1,188,667 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Southern by 7.5% during the first quarter. First Hawaiian Bank now owns 8,263 shares of the utilities provider’s stock worth $427,000 after acquiring an additional 580 shares in the last quarter. USS Investment Management Ltd purchased a new position in shares of Southern during the first quarter worth approximately $31,406,000. Finally, Old Port Advisors purchased a new position in shares of Southern during the first quarter worth approximately $205,000. 56.59% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO William P. Bowers sold 164,377 shares of Southern stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $56.01, for a total value of $9,206,755.77. Following the sale, the chief executive officer now owns 181,005 shares in the company, valued at $10,138,090.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,000 shares of Southern stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $53.50, for a total transaction of $107,000.00. Following the completion of the sale, the chief executive officer now owns 75,772 shares in the company, valued at approximately $4,053,802. The disclosure for this sale can be found here. In the last quarter, insiders sold 750,397 shares of company stock worth $41,266,682. 0.88% of the stock is currently owned by company insiders.

Several research firms have commented on SO. Evercore ISI raised shares of Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. ValuEngine raised shares of Southern from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Bank of America decreased their price target on shares of Southern from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Credit Suisse Group set a $51.00 price target on shares of Southern and gave the stock a “sell” rating in a research note on Monday, April 22nd. Finally, KeyCorp began coverage on shares of Southern in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $51.36.

Shares of NYSE SO opened at $57.32 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.33. Southern Co has a 52 week low of $42.50 and a 52 week high of $57.75. The business has a fifty day moving average price of $55.80. The stock has a market capitalization of $59.67 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 4.20 and a beta of 0.18.

Southern (NYSE:SO) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities analysts predict that Southern Co will post 3.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 19th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, August 16th. Southern’s dividend payout ratio (DPR) is currently 80.78%.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. 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, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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