Bridges Investment Counsel Inc. trimmed its position in Southern Company (The) (NYSE:SO) by 40.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,700 shares of the utilities provider’s stock after selling 5,175 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in Southern Company (The) were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SO. BlackRock Inc. grew its position in shares of Southern Company (The) by 2,961.9% during the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock worth $3,089,736,000 after buying an additional 60,040,696 shares during the period. Janus Henderson Group PLC grew its position in shares of Southern Company (The) by 3,580.1% during the 2nd 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 grew its position in shares of Southern Company (The) by 25.3% during the 2nd 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. grew its position in shares of Southern Company (The) by 4.1% during the 1st 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, Franklin Resources Inc. grew its position in shares of Southern Company (The) by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock worth $1,071,547,000 after buying an additional 770,413 shares during the period. Hedge funds and other institutional investors own 52.64% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.watchlistnews.com/bridges-investment-counsel-inc-lowers-position-in-southern-company-the-so/1717258.html.

Southern Company (NYSE:SO) opened at $51.18 on Tuesday. Southern Company has a 1-year low of $46.20 and a 1-year high of $53.51. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $51,150.00, a PE ratio of 18.53, a PEG ratio of 4.60 and a beta of 0.15.

Southern Company (The) (NYSE:SO) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Southern Company (The) had a return on equity of 10.81% and a net margin of 2.59%. Southern Company (The)’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. analysts forecast that Southern Company will post 2.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Friday, November 17th. Southern Company (The)’s payout ratio is 414.29%.

In other Southern Company (The) news, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christopher C. Womack sold 46,641 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total value of $2,471,973.00. Following the completion of the sale, the executive vice president now owns 56,799 shares in the company, valued at approximately $3,010,347. The disclosure for this sale can be found here. Insiders sold a total of 213,813 shares of company stock worth $11,029,988 in the last 90 days. Company insiders own 0.74% of the company’s stock.

Several research firms have recently issued reports on SO. Zacks Investment Research upgraded Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America Corporation restated an “underperform” rating and set a $51.00 target price on shares of Southern Company (The) in a research report on Tuesday, October 24th. SunTrust Banks, Inc. restated a “hold” rating and set a $52.00 target price on shares of Southern Company (The) in a research report on Friday, October 20th. Jefferies Group LLC restated a “buy” rating and set a $56.00 target price (up from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. Finally, Credit Suisse Group upgraded Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.72.

Southern Company (The) 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 Company (The) (NYSE:SO)

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