Dubuque Bank & Trust Co. cut its stake in shares of Southern Co (NYSE:SO) by 75.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 510 shares of the utilities provider’s stock after selling 1,560 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in Southern were worth $27,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Resources Management Corp CT ADV raised its holdings in shares of Southern by 1.8% during the 4th quarter. Resources Management Corp CT ADV now owns 11,261 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 201 shares in the last quarter. Delta Asset Management LLC TN raised its holdings in shares of Southern by 1.1% during the 4th quarter. Delta Asset Management LLC TN now owns 18,260 shares of the utilities provider’s stock worth $802,000 after acquiring an additional 205 shares in the last quarter. Montecito Bank & Trust raised its holdings in shares of Southern by 3.0% during the 4th quarter. Montecito Bank & Trust now owns 7,135 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 210 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Southern by 38.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 220 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its holdings in shares of Southern by 1.6% during the 4th quarter. Wetherby Asset Management Inc. now owns 14,825 shares of the utilities provider’s stock worth $651,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 56.56% of the company’s stock.
In other Southern news, insider Mark Lantrip sold 33,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $49.50, for a total transaction of $1,633,500.00. Following the transaction, the insider now owns 56,157 shares of the company’s stock, valued at $2,779,771.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher C. Womack sold 18,922 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.36, for a total value of $952,911.92. Following the transaction, the executive vice president now directly owns 10,165 shares in the company, valued at approximately $511,909.40. The disclosure for this sale can be found here. Insiders have sold 383,341 shares of company stock worth $19,342,988 in the last three months. 0.73% of the stock is currently owned by corporate insiders.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.88 billion. Southern had a return on equity of 11.39% and a net margin of 9.54%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, analysts expect that Southern Co will post 3.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, May 17th. This represents a $2.48 dividend on an annualized basis and a yield of 4.72%. This is a positive change from Southern’s previous quarterly dividend of $0.60. Southern’s payout ratio is 78.18%.
Several analysts recently weighed in on SO shares. ValuEngine lowered Southern from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research lowered Southern from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Credit Suisse Group set a $51.00 price target on Southern and gave the company a “sell” rating in a report on Monday. reiterated a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. Finally, SunTrust Banks reissued a “hold” rating and set a $52.00 price target on shares of Southern in a research report on Monday, February 25th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.54.
Southern Company Profile
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.
See Also: Producer Price Index (PPI)
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