Tdam USA Inc. Cuts Holdings in Southern Co (NYSE:SO)

Tdam USA Inc. trimmed its holdings in shares of Southern Co (NYSE:SO) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,090 shares of the utilities provider’s stock after selling 2,401 shares during the period. Tdam USA Inc.’s holdings in Southern were worth $2,437,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Thor Advisors LLC purchased a new position in Southern in the 1st quarter valued at approximately $26,000. Tompkins Financial Corp purchased a new position in Southern in the 1st quarter valued at approximately $28,000. Lee Financial Co increased its stake in Southern by 144.4% in the 1st quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 325 shares in the last quarter. Atlantic Trust LLC purchased a new position in Southern in the 2nd quarter valued at approximately $28,000. Finally, Ellis Investment Partners LLC purchased a new position in Southern in the 1st quarter valued at approximately $29,000. 56.66% of the stock is owned by institutional investors and hedge funds.

In other news, insider Ann P. Daiss sold 3,786 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $54.42, for a total transaction of $206,034.12. Following the sale, the insider now owns 13,798 shares in the company, valued at $750,887.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark A. Crosswhite sold 267,442 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $54.42, for a total value of $14,554,193.64. Following the sale, the chief executive officer now owns 125,727 shares in the company, valued at approximately $6,842,063.34. The disclosure for this sale can be found here. Insiders have sold 769,547 shares of company stock worth $42,411,331 in the last 90 days. Insiders own 0.88% of the company’s stock.

NYSE:SO traded down $0.05 during trading hours on Wednesday, reaching $57.15. 806,107 shares of the company traded hands, compared to its average volume of 4,574,677. The firm’s 50-day simple moving average is $56.22. The stock has a market capitalization of $60.68 billion, a PE ratio of 18.79, a P/E/G ratio of 4.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.59 and a current ratio of 0.76. Southern Co has a 1-year low of $42.50 and a 1-year high of $58.78.

Southern (NYSE:SO) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Southern had a return on equity of 10.04% and a net margin of 20.18%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. Southern’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Southern Co will post 3.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, August 16th. Southern’s dividend payout ratio (DPR) is 80.78%.

A number of equities research analysts have commented on SO shares. KeyCorp started coverage on Southern in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Evercore ISI upgraded Southern from an “in-line” rating to an “outperform” rating in a report on Friday, May 3rd. Mizuho increased their target price on Southern from $48.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. ValuEngine cut Southern from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Bank of America lowered their target price on Southern from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $52.10.

About Southern

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.

Further Reading: Certificate of Deposit (CD)

Institutional Ownership by Quarter for Southern (NYSE:SO)

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