Neo Ivy Capital Management purchased a new position in shares of The Southern Company (NYSE:SO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 45,360 shares of the utilities provider's stock, valued at approximately $3,734,000. Southern accounts for approximately 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 25th largest position.
A number of other institutional investors have also recently bought and sold shares of the business. AM Investment Strategies LLC grew its stake in Southern by 10.2% in the 4th quarter. AM Investment Strategies LLC now owns 89,441 shares of the utilities provider's stock valued at $7,363,000 after buying an additional 8,261 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new stake in shares of Southern during the fourth quarter worth approximately $384,000. Blue Trust Inc. grew its position in shares of Southern by 11.6% in the fourth quarter. Blue Trust Inc. now owns 56,716 shares of the utilities provider's stock valued at $5,115,000 after purchasing an additional 5,904 shares during the last quarter. Impact Partnership Wealth LLC increased its stake in shares of Southern by 331.0% during the fourth quarter. Impact Partnership Wealth LLC now owns 13,664 shares of the utilities provider's stock worth $1,125,000 after purchasing an additional 10,494 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Southern during the 4th quarter worth approximately $364,000. Institutional investors and hedge funds own 64.10% of the company's stock.
Southern Price Performance
Shares of SO traded up $0.82 during midday trading on Monday, hitting $89.66. The company's stock had a trading volume of 3,129,514 shares, compared to its average volume of 4,495,286. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 1.60. The Southern Company has a one year low of $76.64 and a one year high of $94.45. The stock has a market capitalization of $98.54 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.40. The company's fifty day simple moving average is $89.87 and its two-hundred day simple moving average is $87.20.
Southern (NYSE:SO - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Southern had a return on equity of 12.23% and a net margin of 16.47%. The firm had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts expect that The Southern Company will post 4.29 earnings per share for the current fiscal year.
Southern Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Southern's previous quarterly dividend of $0.72. Southern's payout ratio is presently 70.64%.
Insider Transactions at Southern
In other Southern news, CEO Kimberly S. Greene sold 32,190 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $93.12, for a total transaction of $2,997,532.80. Following the sale, the chief executive officer now directly owns 106,819 shares of the company's stock, valued at $9,946,985.28. The trade was a 23.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Martin Bernard Davis sold 1,125 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $89.61, for a total transaction of $100,811.25. Following the transaction, the executive vice president now directly owns 102,090 shares of the company's stock, valued at $9,148,284.90. The trade was a 1.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Morgan Stanley reaffirmed an "outperform" rating on shares of Southern in a report on Thursday, March 20th. Evercore ISI raised their price target on shares of Southern from $90.00 to $94.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Guggenheim reiterated a "neutral" rating and issued a $93.00 price objective on shares of Southern in a research note on Friday, May 2nd. JPMorgan Chase & Co. upgraded shares of Southern from an "underweight" rating to a "neutral" rating and set a $94.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Barclays lifted their price target on shares of Southern from $83.00 to $90.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Southern has an average rating of "Hold" and an average target price of $92.21.
Check Out Our Latest Research Report on SO
About Southern
(
Free Report)
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.
Further Reading
Before you consider Southern, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southern wasn't on the list.
While Southern currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
