Glassman Wealth Services Lowers Position in The Southern Company (NYSE:SO)

Glassman Wealth Services lowered its stake in The Southern Company (NYSE:SOFree Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,912 shares of the utilities provider’s stock after selling 157 shares during the quarter. Glassman Wealth Services’ holdings in Southern were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in Southern by 0.4% in the third quarter. Vanguard Group Inc. now owns 99,572,665 shares of the utilities provider’s stock valued at $6,444,343,000 after purchasing an additional 352,023 shares during the period. FMR LLC grew its holdings in Southern by 5.0% during the 3rd quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock worth $2,518,045,000 after acquiring an additional 1,838,857 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Southern by 1.6% in the 3rd quarter. Northern Trust Corp now owns 10,737,843 shares of the utilities provider’s stock valued at $694,953,000 after purchasing an additional 163,986 shares in the last quarter. Morgan Stanley lifted its position in shares of Southern by 3.7% during the 3rd quarter. Morgan Stanley now owns 9,811,307 shares of the utilities provider’s stock worth $634,988,000 after purchasing an additional 349,122 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Southern during the fourth quarter worth $631,068,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SO. Argus lifted their price target on Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Barclays increased their price target on shares of Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group cut shares of Southern from a “buy” rating to a “neutral” rating and lowered their target price for the company from $78.00 to $76.00 in a report on Thursday, April 4th. BMO Capital Markets reiterated an “outperform” rating and set a $76.00 price target (up from $72.00) on shares of Southern in a research note on Monday, April 1st. Finally, Mizuho raised their price objective on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.73.

Read Our Latest Stock Analysis on SO

Insider Activity

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the sale, the chief executive officer now owns 126,528 shares in the company, valued at approximately $8,720,309.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kimberly S. Greene sold 9,126 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at $8,720,309.76. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Southern Stock Performance

Shares of SO stock traded up $0.58 during mid-day trading on Friday, hitting $77.75. The stock had a trading volume of 2,424,732 shares, compared to its average volume of 5,115,094. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $80.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The company’s 50-day simple moving average is $73.40 and its 200-day simple moving average is $70.79. The firm has a market cap of $85.11 billion, a PE ratio of 20.09, a PEG ratio of 3.22 and a beta of 0.48.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. Sell-side analysts anticipate that The Southern Company will post 3.99 earnings per share for the current year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, May 17th. This is a boost from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.70%. Southern’s dividend payout ratio is 74.42%.

Southern Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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