Parametric Portfolio Associates LLC Purchases 180,498 Shares of Southern Co (NYSE:SO)
Parametric Portfolio Associates LLC boosted its holdings in shares of Southern Co (NYSE:SO) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,852,515 shares of the utilities provider’s stock after acquiring an additional 180,498 shares during the period. Parametric Portfolio Associates LLC owned about 0.27% of Southern worth $157,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Pettyjohn Wood & White Inc. boosted its stake in shares of Southern by 0.3% in the second quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock worth $3,366,000 after acquiring an additional 175 shares during the last quarter. Confluence Wealth Management LLC boosted its holdings in Southern by 2.2% in the 2nd quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock valued at $445,000 after purchasing an additional 175 shares during the last quarter. 6 Meridian boosted its holdings in Southern by 1.8% in the 2nd quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock valued at $568,000 after purchasing an additional 181 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Southern by 0.8% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock valued at $1,296,000 after buying an additional 186 shares during the period. Finally, Western Wealth Management LLC grew its stake in shares of Southern by 3.4% in the 1st quarter. Western Wealth Management LLC now owns 5,833 shares of the utilities provider’s stock valued at $307,000 after buying an additional 193 shares during the period. Institutional investors own 58.39% of the company’s stock.
SO traded up $0.42 on Wednesday, reaching $59.61. The company had a trading volume of 274,972 shares, compared to its average volume of 5,778,676. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 1.33. Southern Co has a 1 year low of $42.50 and a 1 year high of $60.65. The stock has a market capitalization of $61.40 billion, a PE ratio of 19.43, a P/E/G ratio of 4.33 and a beta of 0.17. The stock has a 50-day moving average price of $57.65 and a 200-day moving average price of $54.37.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 19th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. Southern’s dividend payout ratio is presently 80.78%.
In other Southern news, CEO Stephen E. Kuczynski sold 2,000 shares of Southern stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $58.28, for a total value of $116,560.00. Following the transaction, the chief executive officer now directly owns 69,772 shares in the company, valued at $4,066,312.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $60.16, for a total transaction of $1,504,000.00. Following the completion of the transaction, the executive vice president now owns 67,655 shares in the company, valued at $4,070,124.80. The disclosure for this sale can be found here. Insiders have sold a total of 336,550 shares of company stock worth $18,951,778 in the last 90 days. 0.88% of the stock is currently owned by company insiders.
Several research firms have recently commented on SO. Mizuho lifted their price target on shares of Southern from $48.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. KeyCorp began coverage on shares of Southern in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Bank of America dropped their target price on Southern from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Morgan Stanley cut their price target on Southern from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Friday, August 16th. Finally, UBS Group lifted their price target on Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Southern presently has an average rating of “Hold” and a consensus target price of $55.30.
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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