First Bank & Trust increased its stake in shares of Southern Co (NYSE:SO) by 8.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,244 shares of the utilities provider’s stock after buying an additional 2,511 shares during the period. Southern comprises about 1.3% of First Bank & Trust’s holdings, making the stock its 20th biggest position. First Bank & Trust’s holdings in Southern were worth $1,666,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Old Port Advisors purchased a new position in Southern during the 1st quarter valued at $205,000. Financial Architects Inc increased its holdings in shares of Southern by 11.7% in the 4th quarter. Financial Architects Inc now owns 17,924 shares of the utilities provider’s stock valued at $787,000 after acquiring an additional 1,877 shares during the last quarter. American Asset Management Inc. increased its holdings in shares of Southern by 13.4% in the 4th quarter. American Asset Management Inc. now owns 13,520 shares of the utilities provider’s stock valued at $594,000 after acquiring an additional 1,595 shares during the last quarter. Rampart Investment Management Company LLC increased its holdings in shares of Southern by 168.3% in the 4th quarter. Rampart Investment Management Company LLC now owns 77,416 shares of the utilities provider’s stock valued at $3,400,000 after acquiring an additional 48,561 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Southern by 1.2% in the 4th quarter. LPL Financial LLC now owns 795,878 shares of the utilities provider’s stock valued at $34,955,000 after acquiring an additional 9,686 shares during the last quarter. Institutional investors and hedge funds own 56.84% of the company’s stock.
A number of research firms recently issued reports on SO. SunTrust Banks restated a “hold” rating and set a $52.00 price target on shares of Southern in a research note on Monday, February 25th. Citigroup upgraded Southern from a “sell” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $50.00 in a research report on Thursday, January 24th. restated a “sell” rating on shares of Southern in a research report on Wednesday, February 13th. ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, January 15th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Southern presently has an average rating of “Hold” and an average price target of $47.15.
In other news, Director Henry A. Clark III acquired 2,000 shares of Southern stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average price of $50.19 per share, with a total value of $100,380.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $100,380. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen E. Kuczynski sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $51.68, for a total transaction of $361,760.00. Following the transaction, the chief executive officer now directly owns 77,772 shares of the company’s stock, valued at approximately $4,019,256.96. The disclosure for this sale can be found here. Insiders sold 383,341 shares of company stock valued at $19,342,988 in the last quarter. Corporate insiders own 0.73% of the company’s stock.
Shares of NYSE SO traded up $0.15 during midday trading on Monday, reaching $52.65. 55,258 shares of the stock were exchanged, compared to its average volume of 4,550,558. The stock has a market cap of $54.64 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 3.82 and a beta of 0.20. Southern Co has a 12 month low of $42.42 and a 12 month high of $52.65. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.40.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, February 20th. The utilities provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.88 billion. Southern had a net margin of 9.54% and a return on equity of 11.39%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, research analysts anticipate that Southern Co will post 3.03 EPS for the current fiscal year.
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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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