Cresset Asset Management LLC Sells 4,170 Shares of Southern Company (The) $SO

Key Points

• Cresset Asset Management LLC has reduced its holdings in Southern Company by 23.7%, now owning 13,428 shares valued at approximately $1.235 million.
• The company reported Q2 earnings of $0.91 per share, missing estimates, though its revenue of $6.97 billion exceeded expectations.
• Southern Company declared a quarterly dividend of $0.74, yielding 3.1%, with the payment date set for September 8th.

Cresset Asset Management LLC lessened its position in Southern Company (The) (NYSE:SO - Free Report) by 23.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,428 shares of the utilities provider's stock after selling 4,170 shares during the period. Cresset Asset Management LLC's holdings in Southern were worth $1,235,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Investors Research Corp boosted its position in shares of Southern by 400.0% during the 1st quarter. Investors Research Corp now owns 270 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 216 shares in the last quarter. Cheviot Value Management LLC acquired a new position in shares of Southern in the first quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Southern in the first quarter worth about $33,000. Rossby Financial LCC acquired a new position in shares of Southern in the first quarter worth about $39,000. Finally, Elequin Capital LP boosted its holdings in shares of Southern by 60.6% in the fourth quarter. Elequin Capital LP now owns 498 shares of the utilities provider's stock worth $41,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Stock Performance

SO stock traded down $0.1760 on Friday, reaching $94.4440. 3,304,937 shares of the company were exchanged, compared to its average volume of 5,592,975. Southern Company has a 12 month low of $80.46 and a 12 month high of $96.44. The stock's fifty day moving average price is $92.96 and its 200 day moving average price is $90.57. The firm has a market capitalization of $103.89 billion, a PE ratio of 24.28, a PEG ratio of 3.26 and a beta of 0.38. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.08). The company had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.70 billion. Southern had a return on equity of 12.09% and a net margin of 15.10%.The company's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. Southern has set its Q3 2025 guidance at 1.500-1.500 EPS. FY 2025 guidance at 4.200-4.300 EPS. On average, research analysts anticipate that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 18th. Southern's payout ratio is currently 76.09%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SO shares. Morgan Stanley decreased their price target on shares of Southern from $91.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. lifted their target price on shares of Southern from $97.00 to $98.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen cut shares of Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lifted their target price on shares of Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Barclays lifted their target price on shares of Southern from $90.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Southern currently has an average rating of "Hold" and a consensus price target of $94.36.

Insiders Place Their Bets

In other news, CEO Kimberly S. Greene sold 13,158 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $1,250,010.00. Following the completion of the sale, the chief executive officer directly owned 93,661 shares of the company's stock, valued at $8,897,795. This represents a 12.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Southern Company Profile

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.