Bard Financial Services Inc. Buys Shares of 24,460 The Southern Company (NYSE:SO)


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Bard Financial Services Inc. bought a new stake in shares of The Southern Company (NYSE:SO) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 24,460 shares of the utilities provider’s stock, valued at approximately $1,503,000.

Several other hedge funds have also bought and sold shares of the company. First Heartland Consultants Inc. boosted its holdings in shares of The Southern by 4.5% during the fourth quarter. First Heartland Consultants Inc. now owns 4,099 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 178 shares during the last quarter. Community Bank N.A. boosted its holdings in shares of The Southern by 0.9% during the fourth quarter. Community Bank N.A. now owns 20,526 shares of the utilities provider’s stock worth $1,261,000 after purchasing an additional 185 shares during the last quarter. United Capital Management of KS Inc. boosted its holdings in shares of The Southern by 1.9% during the fourth quarter. United Capital Management of KS Inc. now owns 9,969 shares of the utilities provider’s stock worth $612,000 after purchasing an additional 187 shares during the last quarter. Signet Financial Management LLC boosted its holdings in shares of The Southern by 3.4% during the fourth quarter. Signet Financial Management LLC now owns 5,767 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 191 shares during the last quarter. Finally, Procyon Private Wealth Partners LLC boosted its holdings in shares of The Southern by 3.0% during the fourth quarter. Procyon Private Wealth Partners LLC now owns 6,695 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Several equities research analysts have recently issued reports on SO shares. Mizuho raised their price objective on The Southern from $52.00 to $57.00 and gave the stock an “underperform” rating in a report on Thursday, March 18th. Morgan Stanley increased their target price on The Southern from $55.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, March 25th. Wells Fargo & Company increased their target price on The Southern from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 31st. Zacks Investment Research raised The Southern from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Thursday, January 14th. Finally, Scotiabank raised The Southern from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, December 15th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $64.60.

In related news, CEO Stephen E. Kuczynski sold 2,500 shares of The Southern stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $61.19, for a total value of $152,975.00. Following the completion of the transaction, the chief executive officer now directly owns 66,994 shares in the company, valued at $4,099,362.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann P. Daiss sold 5,549 shares of The Southern stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $62.75, for a total value of $348,199.75. Following the completion of the transaction, the insider now owns 18,666 shares of the company’s stock, valued at $1,171,291.50. The disclosure for this sale can be found here. Insiders have sold 13,049 shares of company stock valued at $802,200 over the last 90 days. Insiders own 0.39% of the company’s stock.

NYSE:SO opened at $62.80 on Thursday. The business’s 50-day moving average is $59.90 and its two-hundred day moving average is $59.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.73. The Southern Company has a 12 month low of $50.40 and a 12 month high of $64.93. The firm has a market capitalization of $66.36 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.56 and a beta of 0.39.

The Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, February 17th. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The Southern had a return on equity of 10.08% and a net margin of 15.80%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company posted $0.27 earnings per share. Equities analysts anticipate that The Southern Company will post 3.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Tuesday, February 16th were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Friday, February 12th. This represents a $2.56 annualized dividend and a dividend yield of 4.08%. The Southern’s dividend payout ratio is presently 82.32%.

The Southern 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 and battery energy storage projects 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 The Southern (NYSE:SO)

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