Ipswich Investment Management Co. Inc. Increases Position in Southern Co (NYSE:SO)
Ipswich Investment Management Co. Inc. boosted its position in shares of Southern Co (NYSE:SO) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,759 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Southern were worth $994,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SO. Gierl Augustine Investment Management Inc boosted its stake in shares of Southern by 8.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 72,041 shares of the utilities provider’s stock worth $3,586,000 after buying an additional 5,844 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in shares of Southern by 115.7% in the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,260 shares during the last quarter. First National Bank of Omaha boosted its stake in shares of Southern by 0.5% in the second quarter. First National Bank of Omaha now owns 15,070 shares of the utilities provider’s stock worth $721,000 after buying an additional 70 shares during the last quarter. Vicus Capital boosted its stake in shares of Southern by 11.9% in the first quarter. Vicus Capital now owns 16,423 shares of the utilities provider’s stock worth $818,000 after buying an additional 1,745 shares during the last quarter. Finally, Elkfork Partners LLC boosted its stake in shares of Southern by 23.9% in the first quarter. Elkfork Partners LLC now owns 695,470 shares of the utilities provider’s stock worth $34,620,000 after buying an additional 134,062 shares during the last quarter. 53.57% of the stock is owned by institutional investors and hedge funds.
Southern Co (SO) traded down 0.80% on Friday, reaching $48.42. The company had a trading volume of 3,227,618 shares. The stock has a market capitalization of $48.39 billion, a P/E ratio of 79.64 and a beta of 0.12. Southern Co has a 12 month low of $46.20 and a 12 month high of $53.73. The firm has a 50-day moving average of $48.08 and a 200-day moving average of $49.46.
Southern (NYSE:SO) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.23 billion. Southern had a negative return on equity of 22.86% and a negative net margin of 24.83%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. On average, equities research analysts expect that Southern Co will post $2.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.79%. Southern’s dividend payout ratio is presently 346.27%.
WARNING: “Ipswich Investment Management Co. Inc. Increases Position in Southern Co (NYSE:SO)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.watchlistnews.com/ipswich-investment-management-co-inc-increases-position-in-southern-co-nyseso/1479545.html.
A number of equities research analysts have recently weighed in on SO shares. Deutsche Bank AG raised Southern from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $52.00 in a research note on Tuesday, August 1st. Zacks Investment Research cut Southern from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Southern in a research note on Monday, July 31st. Barclays PLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Southern in a research note on Friday, May 5th. Finally, BidaskClub cut Southern from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $48.79.
In other news, insider Ann P. Daiss sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares in the company, valued at $379,164.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Lantrip sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. Following the sale, the chief executive officer now owns 31,080 shares of the company’s stock, valued at $1,600,620. The disclosure for this sale can be found here. Insiders have sold 152,084 shares of company stock valued at $7,665,158 over the last 90 days. Insiders own 1.00% of the company’s stock.
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 Co (NYSE:SO).
Receive News & Ratings for Southern Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Co and related companies with Analyst Ratings Network's FREE daily email newsletter.