Crossmark Global Holdings Inc. Has $24.68 Million Stock Holdings in Southern Company (The) $SO

Key Points

• Crossmark Global Holdings increased its stake in Southern Company by 9.8% in the fourth quarter, holding 283,015 shares worth about $24.68 million at quarter-end.
• Southern reported better-than-expected quarterly results, with EPS of $1.32 versus $1.21 expected and revenue of $8.40 billion versus $8.07 billion forecast, while revenue rose 8% year over year.
• The utility also raised its quarterly dividend to $0.76 per share from $0.74, implying an annualized dividend of $3.04 and a yield of 3.3%.

Crossmark Global Holdings Inc. boosted its position in Southern Company (The) (NYSE:SO - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,015 shares of the utilities provider's stock after buying an additional 25,275 shares during the period. Crossmark Global Holdings Inc.'s holdings in Southern were worth $24,679,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of Southern in the third quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC bought a new stake in Southern during the third quarter worth $29,000. Triumph Capital Management bought a new stake in Southern during the third quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Southern in the 4th quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Southern in the 3rd quarter valued at $34,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Price Performance

SO opened at $91.80 on Friday. Southern Company has a fifty-two week low of $83.09 and a fifty-two week high of $100.83. The firm has a 50-day moving average of $95.82 and a 200 day moving average of $91.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. The firm has a market cap of $103.49 billion, a P/E ratio of 23.36, a PEG ratio of 2.80 and a beta of 0.36.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, research analysts expect that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be issued a $0.76 dividend. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern's payout ratio is presently 75.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SO. Truist Financial began coverage on shares of Southern in a research report on Tuesday, April 21st. They set a "hold" rating and a $103.00 price target on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Southern in a research report on Friday, February 20th. Raymond James Financial reissued an "outperform" rating and set a $104.00 target price on shares of Southern in a research report on Friday, May 1st. Scotiabank boosted their target price on Southern from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised Southern from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $99.85.

Insider Activity at Southern

In other Southern news, CEO Kimberly S. Greene sold 25,000 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the transaction, the chief executive officer directly owned 103,602 shares of the company's stock, valued at approximately $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Cummiskey sold 6,669 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the sale, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by corporate insiders.

Southern Profile

Southern Company NYSE: SO is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.

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