9,435 Shares of Southern Company (The) $SO Bought by Kondo Wealth Advisors Inc.

Kondo Wealth Advisors Inc. acquired a new position in shares of Southern Company (The) (NYSE:SO) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 9,435 shares of the utilities provider’s stock, valued at approximately $782,000.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its position in Southern by 4.9% in the first quarter. Bank of America Corp DE now owns 8,380,592 shares of the utilities provider’s stock worth $808,895,000 after acquiring an additional 392,210 shares during the period. Legal & General Group Plc purchased a new position in Southern in the second quarter valued at about $737,256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Southern by 9.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,681,674 shares of the utilities provider’s stock valued at $543,793,000 after acquiring an additional 508,149 shares during the period. Swiss National Bank grew its position in shares of Southern by 7.2% during the 1st quarter. Swiss National Bank now owns 3,231,400 shares of the utilities provider’s stock valued at $311,895,000 after acquiring an additional 216,900 shares during the period. Finally, National Pension Service grew its position in shares of Southern by 1.9% during the 2nd quarter. National Pension Service now owns 2,932,978 shares of the utilities provider’s stock valued at $280,715,000 after acquiring an additional 54,111 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SO shares. Morgan Stanley decreased their price target on shares of Southern from $89.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, September 18th. Mizuho set a $106.00 price objective on Southern in a research note on Friday, July 31st. KeyCorp dropped their price objective on Southern from $79.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. reduced their price objective on Southern from $101.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Finally, Wall Street Zen raised Southern from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.47.

Southern Stock Performance

Southern stock traded down $1.59 during midday trading on Monday, reaching $89.59. The stock had a trading volume of 1,937,387 shares, compared to its average volume of 5,829,390. The firm has a market capitalization of $103.06 billion, a PE ratio of 21.48, a P/E/G ratio of 2.40 and a beta of 0.31. Southern Company has a 12 month low of $81.69 and a 12 month high of $99.58. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The firm’s 50-day moving average price is $87.71 and its 200 day moving average price is $92.14.

Southern (NYSE:SO) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. The firm had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. As a group, research analysts predict that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Profile

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.