Pettyjohn Wood & White Inc. increased its position in shares of Southern Co (NYSE:SO) by 0.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,890 shares of the utilities provider’s stock after acquiring an additional 175 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Southern were worth $3,366,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Southern by 0.9% during the 1st quarter. BlackRock Inc. now owns 68,560,527 shares of the utilities provider’s stock worth $3,543,210,000 after buying an additional 589,516 shares during the period. FMR LLC lifted its holdings in Southern by 24.1% during the 1st quarter. FMR LLC now owns 12,907,022 shares of the utilities provider’s stock worth $667,035,000 after buying an additional 2,503,587 shares during the period. Geode Capital Management LLC lifted its holdings in Southern by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 12,763,112 shares of the utilities provider’s stock worth $559,911,000 after buying an additional 1,188,667 shares during the period. Northern Trust Corp lifted its holdings in Southern by 1.1% during the 1st quarter. Northern Trust Corp now owns 12,148,623 shares of the utilities provider’s stock worth $627,841,000 after buying an additional 135,170 shares during the period. Finally, Federated Investors Inc. PA lifted its holdings in Southern by 9.6% during the 1st quarter. Federated Investors Inc. PA now owns 9,681,312 shares of the utilities provider’s stock worth $500,330,000 after buying an additional 849,842 shares during the period. Institutional investors and hedge funds own 56.66% of the company’s stock.

In related news, CEO William P. Bowers sold 164,377 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $56.01, for a total value of $9,206,755.77. Following the completion of the sale, the chief executive officer now directly owns 181,005 shares of the company’s stock, valued at approximately $10,138,090.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $53.50, for a total value of $107,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,772 shares of the company’s stock, valued at $4,053,802. The disclosure for this sale can be found here. Insiders sold a total of 769,547 shares of company stock worth $42,411,331 over the last three months. 0.88% of the stock is owned by company insiders.

Several research analysts have commented on the company. KeyCorp assumed coverage on Southern in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Barclays reaffirmed a “hold” rating and set a $57.00 target price on shares of Southern in a report on Wednesday, June 19th. Evercore ISI raised Southern from an “in-line” rating to an “outperform” rating in a report on Friday, May 3rd. ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.10.

Shares of NYSE:SO traded up $0.47 during midday trading on Friday, reaching $57.48. The company’s stock had a trading volume of 6,241,900 shares, compared to its average volume of 5,156,523. The firm has a market capitalization of $59.36 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 3.77 and a beta of 0.18. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.59 and a current ratio of 0.76. The firm has a 50 day moving average price of $56.34 and a two-hundred day moving average price of $53.24. Southern Co has a fifty-two week low of $42.50 and a fifty-two week high of $58.78.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.12 billion. Southern had a return on equity of 10.04% and a net margin of 20.18%. The firm’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. As a group, research analysts anticipate that Southern Co will post 3.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, August 16th. Southern’s dividend payout ratio is 80.78%.

About Southern

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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Institutional Ownership by Quarter for Southern (NYSE:SO)

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