Glenview Trust Co Acquires Shares of 34,739 Southern Company (The) $SO

Glenview Trust Co acquired a new stake in shares of Southern Company (The) (NYSE:SO) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 34,739 shares of the utilities provider’s stock, valued at approximately $3,325,000.

Other hedge funds have also recently modified their holdings of the company. Marble Wealth LLC bought a new position in shares of Southern during the 4th quarter valued at about $4,443,000. Wolverine Asset Management LLC bought a new stake in shares of Southern in the fourth quarter worth about $2,462,000. Mawer Investment Management Ltd. increased its holdings in shares of Southern by 121.4% in the fourth quarter. Mawer Investment Management Ltd. now owns 1,767,773 shares of the utilities provider’s stock worth $154,150,000 after purchasing an additional 969,493 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of Southern by 29.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 50,628 shares of the utilities provider’s stock worth $4,887,000 after buying an additional 11,448 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Southern by 7.1% in the fourth quarter. M&T Bank Corp now owns 158,292 shares of the utilities provider’s stock worth $13,803,000 after buying an additional 10,531 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Trading Down 0.9%

SO opened at $88.94 on Friday. The firm has a market cap of $102.32 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.72 and a beta of 0.34. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The stock has a 50-day moving average of $94.22 and a 200 day moving average of $94.42.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.12. The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, research analysts forecast that Southern Company will post 4.59 EPS for the current year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio is presently 72.90%.

Analyst Ratings Changes

SO has been the subject of several research analyst reports. Truist Financial cut their price target on Southern from $100.00 to $97.00 and set a “hold” rating for the company in a report on Thursday, August 13th. KeyCorp downgraded Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price for the company. in a research report on Thursday, July 23rd. Mizuho set a $106.00 target price on shares of Southern in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Southern currently has a consensus rating of “Hold” and an average price target of $100.09.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.