Sterling Capital Management LLC Trims Position in Southern Company (The) (SO)

Sterling Capital Management LLC lessened its holdings in Southern Company (The) (NYSE:SO) by 41.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,600 shares of the utilities provider’s stock after selling 65,800 shares during the period. Sterling Capital Management LLC’s holdings in Southern were worth $4,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SO. BlackRock Inc. increased its position in Southern by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock worth $3,089,736,000 after purchasing an additional 60,040,696 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Southern by 3,580.1% during the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock worth $223,766,000 after buying an additional 4,546,503 shares during the period. Capital Research Global Investors boosted its stake in Southern by 25.3% during the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock worth $715,338,000 after buying an additional 3,015,226 shares during the period. Vanguard Group Inc. boosted its stake in Southern by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock worth $3,422,780,000 after buying an additional 2,688,854 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in Southern by 1,565.3% during the third quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock worth $59,048,000 after buying an additional 1,633,990 shares during the period. Institutional investors own 53.66% of the company’s stock.

In other news, VP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the completion of the sale, the vice president now directly owns 26,000 shares of the company’s stock, valued at $1,356,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $4,257,550.00. The disclosure for this sale can be found here. Insiders have sold 213,813 shares of company stock valued at $11,029,988 over the last three months. Insiders own 1.00% of the company’s stock.

SO has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Jefferies Group reaffirmed a “buy” rating and set a $56.00 price objective (up from $55.00) on shares of Southern in a research note on Tuesday, September 12th. KeyCorp reaffirmed a “hold” rating on shares of Southern in a research note on Friday, September 1st. Mizuho raised shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, September 5th. Finally, Bank of America reaffirmed an “underperform” rating and set a $51.00 price objective on shares of Southern in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.92.

Shares of Southern Company (NYSE SO) opened at $48.50 on Monday. The stock has a market cap of $48,680.00, a price-to-earnings ratio of 86.61, a PEG ratio of 3.72 and a beta of 0.13. Southern Company has a one year low of $46.71 and a one year high of $53.51. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73.

Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 earnings per share. sell-side analysts predict that Southern Company will post 2.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s dividend payout ratio is currently 414.29%.

WARNING: “Sterling Capital Management LLC Trims Position in Southern Company (The) (SO)” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/25/sterling-capital-management-llc-trims-position-in-southern-company-the-so.html.

Southern Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO).

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit