Southern Co (SO) Shares Sold by Nachman Norwood & Parrott Inc

Nachman Norwood & Parrott Inc lessened its holdings in shares of Southern Co (NYSE:SO) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,815 shares of the utilities provider’s stock after selling 2,012 shares during the period. Nachman Norwood & Parrott Inc’s holdings in Southern were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SO. Sontag Advisory LLC bought a new stake in shares of Southern during the 4th quarter valued at about $25,000. Vigilant Capital Management LLC bought a new stake in shares of Southern during the 4th quarter valued at about $30,000. Parkside Financial Bank & Trust grew its stake 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 valued at $35,000 after purchasing an additional 220 shares during the period. Liberty Wealth Management LLC bought a new stake in shares of Southern during the 4th quarter valued at about $35,000. Finally, Lindbrook Capital LLC bought a new stake in shares of Southern during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 56.59% of the company’s stock.

SO stock opened at $53.24 on Friday. The company has a market capitalization of $55.41 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 3.91 and a beta of 0.21. Southern Co has a 1-year low of $42.42 and a 1-year high of $53.37. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.40.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Southern had a return on equity of 11.39% and a net margin of 9.54%. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. On average, sell-side analysts expect that Southern Co will post 3.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.66%. This is a boost from Southern’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, May 17th. Southern’s dividend payout ratio is 78.18%.

In related news, Director Henry A. Clark III purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $50.19 per share, for a total transaction of $100,380.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $100,380. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher C. Womack sold 18,922 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.36, for a total value of $952,911.92. Following the sale, the executive vice president now 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 a total of 383,341 shares of company stock worth $19,342,988 over the last ninety days. Insiders own 0.73% of the company’s stock.

SO has been the subject of a number of recent research reports. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Saturday, January 5th. ValuEngine upgraded Southern from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. SunTrust Banks reiterated a “hold” rating and set a $47.00 price objective on shares of Southern in a research note on Monday, January 7th. Guggenheim reiterated a “hold” rating and set a $44.00 price objective on shares of Southern in a research note on Monday, January 7th. Finally, Citigroup upgraded Southern from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $45.00 to $50.00 in a research note on Thursday, January 24th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $47.54.

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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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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