Epstein & White Financial LLC cut its holdings in Southern Co (NYSE:SO) by 14.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,095 shares of the utilities provider’s stock after selling 836 shares during the quarter. Epstein & White Financial LLC’s holdings in Southern were worth $215,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Vigilant Capital Management LLC acquired a new position in shares of Southern in the fourth quarter valued at about $30,000. Parkside Financial Bank & Trust increased its holdings in shares of Southern by 38.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 220 shares during the period. IMS Capital Management acquired a new position in shares of Southern in the third quarter valued at about $37,000. Mondrian Investment Partners LTD acquired a new position in shares of Southern in the fourth quarter valued at about $40,000. Finally, Lavaca Capital LLC acquired a new position in shares of Southern in the fourth quarter valued at about $48,000. Institutional investors own 56.84% of the company’s stock.
A number of research analysts have recently weighed in on the company. Mizuho reissued a “hold” rating and issued a $46.00 price objective on shares of Southern in a report on Tuesday, December 11th. Barclays increased their price objective on Southern from $48.00 to $49.00 and gave the company a “hold” rating in a report on Monday, November 19th. UBS Group increased their price objective on Southern from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, October 29th. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, December 4th. Finally, ValuEngine raised Southern from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Southern currently has an average rating of “Hold” and an average target price of $46.64.
Southern stock opened at $49.24 on Tuesday. The stock has a market cap of $50.54 billion, a P/E ratio of 16.30, a P/E/G ratio of 3.63 and a beta of 0.19. Southern Co has a 52 week low of $42.38 and a 52 week high of $49.43. The company has a current ratio of 0.72, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 6th. Investors of record on Tuesday, February 19th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Friday, February 15th. Southern’s dividend payout ratio (DPR) is 79.47%.
In related news, CEO Kimberly S. Greene sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $47.03, for a total transaction of $705,450.00. Following the sale, the chief executive officer now directly owns 9,380 shares of the company’s stock, valued at $441,141.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William P. Bowers sold 90,942 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $48.60, for a total value of $4,419,781.20. Following the sale, the chief executive officer now directly owns 177,043 shares in the company, valued at $8,604,289.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,942 shares of company stock worth $5,553,451. 0.73% of the stock is owned by corporate insiders.
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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