Commerzbank Aktiengesellschaft FI Acquires 8,182 Shares of Southern Co (NYSE:SO)

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Southern Co (NYSE:SO) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,442 shares of the utilities provider’s stock after purchasing an additional 8,182 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Southern were worth $11,965,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FMR LLC raised its stake in Southern by 24.1% during the 1st quarter. FMR LLC now owns 12,907,022 shares of the utilities provider’s stock worth $667,035,000 after buying an additional 2,503,587 shares during the period. Geode Capital Management LLC raised its stake in Southern by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 12,763,112 shares of the utilities provider’s stock worth $559,911,000 after buying an additional 1,188,667 shares during the period. California Public Employees Retirement System raised its stake in Southern by 20.6% during the 1st quarter. California Public Employees Retirement System now owns 6,398,661 shares of the utilities provider’s stock worth $330,683,000 after buying an additional 1,095,027 shares during the period. Federated Investors Inc. PA raised its stake in Southern by 9.6% during the 1st quarter. Federated Investors Inc. PA now owns 9,681,312 shares of the utilities provider’s stock worth $500,330,000 after buying an additional 849,842 shares during the period. Finally, USS Investment Management Ltd acquired a new position in Southern during the 1st quarter worth approximately $31,406,000. Institutional investors own 56.61% of the company’s stock.

Shares of Southern stock traded down $0.12 on Friday, hitting $56.86. The company had a trading volume of 565,880 shares, compared to its average volume of 3,490,357. The firm has a market capitalization of $59.22 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 4.06 and a beta of 0.20. Southern Co has a 1 year low of $42.50 and a 1 year high of $57.37. The stock’s 50 day simple moving average is $55.76. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.88 and a quick ratio of 0.69.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.12 billion. Southern had a return on equity of 10.37% and a net margin of 15.03%. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, analysts anticipate that Southern Co will post 3.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, August 16th. Southern’s dividend payout ratio (DPR) is presently 80.78%.

A number of research analysts recently weighed in on the company. ValuEngine raised Southern from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Mizuho upped their price target on Southern from $48.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Evercore ISI raised Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. Barclays reaffirmed a “hold” rating and set a $57.00 price target on shares of Southern in a research note on Wednesday, June 19th. Finally, Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Southern has a consensus rating of “Hold” and an average target price of $51.36.

In related news, CEO Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $53.50, for a total transaction of $107,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,772 shares of the company’s stock, valued at $4,053,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 7,850 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.06, for a total value of $424,371.00. Following the sale, the insider now directly owns 17,862 shares of the company’s stock, valued at $965,619.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 750,397 shares of company stock valued at $41,266,682. Company insiders own 0.88% of the company’s stock.

Southern 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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