Destination Wealth Management boosted its stake in Southern Co (NYSE:SO) by 36.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,470 shares of the utilities provider’s stock after purchasing an additional 389 shares during the period. Destination Wealth Management’s holdings in Southern were worth $65,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of SO. Vigilant Capital Management LLC acquired a new position in shares of Southern in the fourth quarter worth $30,000. Parkside Financial Bank & Trust grew its stake in shares of Southern by 38.1% in the fourth 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. IMS Capital Management acquired a new position in shares of Southern in the third quarter worth $37,000. Mondrian Investment Partners LTD acquired a new position in shares of Southern in the fourth quarter worth $40,000. Finally, Lavaca Capital LLC acquired a new position in shares of Southern in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 56.84% of the company’s stock.
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 value of $4,419,781.20. Following the completion of the sale, the chief executive officer now directly owns 177,043 shares of the company’s stock, valued at $8,604,289.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 9,380 shares of the company’s stock, valued at $441,141.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,942 shares of company stock valued at $5,553,451. Corporate insiders own 0.73% of the company’s stock.
SO has been the subject of several research reports. Zacks Investment Research downgraded shares of Southern from a “buy” rating to a “hold” rating in a research note on Thursday, December 6th. UBS Group boosted their price target on shares of Southern from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, October 29th. ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Mizuho restated a “hold” rating and issued a $46.00 price target on shares of Southern in a research note on Tuesday, December 11th. Finally, Guggenheim restated a “hold” rating and issued a $44.00 price target on shares of Southern in a research note on Monday, January 7th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.64.
Southern stock opened at $49.37 on Wednesday. The firm has a market cap of $50.49 billion, a PE ratio of 16.35, a PEG ratio of 3.63 and a beta of 0.19. Southern Co has a 12-month low of $42.38 and a 12-month high of $49.62. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 19th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. Southern’s dividend payout ratio (DPR) is currently 79.47%.
Southern Company 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.
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