Heritage Investors Management Corp Has $640,000 Holdings in Southern Co (SO)
Heritage Investors Management Corp decreased its holdings in shares of Southern Co (NYSE:SO) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,392 shares of the utilities provider’s stock after selling 2,895 shares during the quarter. Heritage Investors Management Corp’s holdings in Southern were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of Southern by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 10,620,343 shares of the utilities provider’s stock worth $463,048,000 after buying an additional 193,771 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Southern by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,817,412 shares of the utilities provider’s stock worth $79,230,000 after buying an additional 36,654 shares during the period. First Republic Investment Management Inc. boosted its position in shares of Southern by 10.1% during the third quarter. First Republic Investment Management Inc. now owns 76,879 shares of the utilities provider’s stock worth $3,352,000 after buying an additional 7,029 shares during the period. Fifth Third Bancorp raised its holdings in Southern by 6.3% during the third quarter. Fifth Third Bancorp now owns 92,521 shares of the utilities provider’s stock worth $4,034,000 after acquiring an additional 5,451 shares in the last quarter. Finally, Bell Rock Capital LLC bought a new stake in Southern during the third quarter worth about $205,000. 56.84% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. ValuEngine lowered Southern from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research lowered Southern from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. reiterated a “sell” rating on shares of Southern in a report on Wednesday, February 13th. SunTrust Banks reiterated a “hold” rating and set a $52.00 target price on shares of Southern in a report on Monday, February 25th. Finally, Citigroup upgraded Southern from a “sell” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $50.00 in a report on Thursday, January 24th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Southern presently has a consensus rating of “Hold” and a consensus target price of $47.00.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, February 20th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.88 billion. Southern had a return on equity of 11.39% and a net margin of 9.54%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Equities research analysts predict that Southern Co will post 3.03 EPS for the current fiscal year.
In other Southern news, CEO William P. Bowers sold 233,477 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $51.29, for a total value of $11,975,035.33. Following the sale, the chief executive officer now owns 354,212 shares in the company, valued at $18,167,533.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William P. Bowers sold 90,942 shares of the company’s stock in a transaction that occurred 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 owns 177,043 shares in the company, valued at approximately $8,604,289.80. The disclosure for this sale can be found here. Insiders sold 383,341 shares of company stock worth $19,342,988 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.
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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. 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, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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