Capital Investment Advisory Services LLC Trims Stake in Southern Co (SO)

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Capital Investment Advisory Services LLC trimmed its holdings in shares of Southern Co (NYSE:SO) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,301 shares of the utilities provider’s stock after selling 464 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Southern were worth $452,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SO. Vanguard Group Inc boosted its stake in Southern by 1.7% in the third quarter. Vanguard Group Inc now owns 77,467,557 shares of the utilities provider’s stock valued at $3,377,586,000 after acquiring an additional 1,324,658 shares in the last quarter. BlackRock Inc. boosted its stake in Southern by 1.4% in the third quarter. BlackRock Inc. now owns 65,377,083 shares of the utilities provider’s stock valued at $2,850,440,000 after acquiring an additional 878,787 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Southern by 5.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,224,108 shares of the utilities provider’s stock valued at $794,571,000 after acquiring an additional 881,373 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Southern by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 10,620,343 shares of the utilities provider’s stock valued at $463,048,000 after acquiring an additional 193,771 shares in the last quarter. Finally, FMR LLC boosted its stake in Southern by 28.2% in the third quarter. FMR LLC now owns 8,617,581 shares of the utilities provider’s stock valued at $375,726,000 after acquiring an additional 1,896,970 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors.

Several equities research analysts have weighed in on SO shares. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, November 20th. Guggenheim restated a “hold” rating and issued a $44.00 target price on shares of Southern in a research note on Monday, January 7th. Credit Suisse Group raised their target price on shares of Southern from $44.00 to $46.00 and gave the company an “underperform” rating in a research note on Thursday, December 6th. SunTrust Banks restated a “hold” rating and issued a $48.00 target price on shares of Southern in a research note on Thursday, November 8th. Finally, Citigroup upgraded shares of Southern from a “sell” rating to a “neutral” rating and raised their target price for the company from $45.00 to $50.00 in a research note on Thursday, January 24th. Four equities 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 company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.64.

In related news, CEO William P. Bowers sold 90,942 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $48.60, for a total transaction of $4,419,781.20. Following the completion of the transaction, the chief executive officer now directly owns 177,043 shares in the company, valued at $8,604,289.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kimberly S. Greene sold 15,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $47.03, for a total transaction of $705,450.00. Following the transaction, the chief executive officer now owns 9,380 shares of the company’s stock, valued at $441,141.40. The disclosure for this sale can be found here. Insiders have sold 114,942 shares of company stock valued at $5,553,451 over the last quarter. Insiders own 0.73% of the company’s stock.

NYSE:SO opened at $49.12 on Monday. Southern Co has a 12 month low of $42.38 and a 12 month high of $49.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.72 and a quick ratio of 0.58. The firm has a market cap of $50.54 billion, a PE ratio of 16.26, a P/E/G ratio of 3.63 and a beta of 0.19.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 19th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. Southern’s payout ratio is currently 79.47%.

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Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

Read More: Asset Allocation

Institutional Ownership by Quarter for Southern (NYSE:SO)

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