Intech Investment Management LLC Sells 12,320 Shares of Southern Company (The) $SO

Key Points

• Intech Investment Management cut its Southern Company stake by 10.9% in the fourth quarter, selling 12,320 shares and ending with 100,361 shares valued at about $8.75 million.
• Southern reported stronger-than-expected quarterly results, posting $1.32 EPS and $8.40 billion in revenue, both ahead of analyst estimates, while revenue rose 8% year over year.
• The company raised its quarterly dividend to $0.76 per share from $0.74, implying a 3.3% yield, while analysts currently broadly rate the stock a Hold with a consensus target price of $99.38.

Intech Investment Management LLC lessened its stake in Southern Company (The) (NYSE:SO - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,361 shares of the utilities provider's stock after selling 12,320 shares during the quarter. Intech Investment Management LLC's holdings in Southern were worth $8,751,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Foundations Investment Advisors LLC lifted its holdings in shares of Southern by 14.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 257,096 shares of the utilities provider's stock valued at $22,419,000 after purchasing an additional 32,516 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Southern by 2.2% in the fourth quarter. Huntington National Bank now owns 266,943 shares of the utilities provider's stock valued at $23,277,000 after purchasing an additional 5,732 shares in the last quarter. Connecticut Capital Management Group LLC bought a new position in shares of Southern in the fourth quarter valued at approximately $319,000. Kingsview Wealth Management LLC lifted its holdings in shares of Southern by 2.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 40,282 shares of the utilities provider's stock valued at $3,513,000 after purchasing an additional 890 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas lifted its holdings in shares of Southern by 104.1% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 24,885 shares of the utilities provider's stock valued at $2,170,000 after purchasing an additional 12,693 shares in the last quarter. Institutional investors own 64.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Seaport Research Partners lowered Southern from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Evercore upgraded Southern from an "in-line" rating to an "outperform" rating and set a $111.00 price target on the stock in a report on Thursday, March 5th. Scotiabank lifted their price target on Southern from $101.00 to $103.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. Truist Financial dropped their price target on Southern from $103.00 to $100.00 and set a "hold" rating on the stock in a report on Friday. Finally, Raymond James Financial reiterated an "outperform" rating and set a $104.00 price target on shares of Southern in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $99.38.

Southern Stock Performance

Shares of Southern stock opened at $92.06 on Friday. The business's fifty day simple moving average is $94.61 and its 200 day simple moving average is $91.84. The firm has a market capitalization of $103.78 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.80 and a beta of 0.36. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 12.64% and a net margin of 14.46%.Southern's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. As a group, analysts anticipate that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a $0.76 dividend. The ex-dividend date is Monday, May 18th. This is a boost from Southern's previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern's dividend payout ratio is presently 77.35%.

Insider Buying and Selling at Southern

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

About Southern

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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