State Board of Administration of Florida Retirement System lifted its position in shares of Southern Company (The) (NYSE:SO) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,398,555 shares of the utilities provider’s stock after buying an additional 58,053 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Southern Company (The) worth $66,963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SO. Waldron LP purchased a new position in Southern Company (The) in the 1st quarter worth approximately $216,000. Welch Group LLC increased its stake in Southern Company (The) by 4.1% in the 1st quarter. Welch Group LLC now owns 308,301 shares of the utilities provider’s stock worth $15,347,000 after purchasing an additional 12,250 shares during the period. Eqis Capital Management Inc. increased its stake in Southern Company (The) by 12.1% in the 1st quarter. Eqis Capital Management Inc. now owns 17,899 shares of the utilities provider’s stock worth $891,000 after purchasing an additional 1,931 shares during the period. Nwam LLC increased its stake in Southern Company (The) by 20.1% in the 1st quarter. Nwam LLC now owns 7,926 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 1,325 shares during the period. Finally, Strategic Financial Group LLC increased its stake in Southern Company (The) by 5.0% in the 1st quarter. Strategic Financial Group LLC now owns 5,269 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 250 shares during the period. 53.28% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on the company. Citigroup Inc. reaffirmed a “sell” rating and issued a $44.00 price target (up from $43.00) on shares of Southern Company (The) in a research note on Tuesday. Royal Bank Of Canada raised Southern Company (The) from a “sector perform” rating to an “outperform” rating and set a $53.00 price target on the stock in a research note on Friday, September 29th. Guggenheim raised Southern Company (The) from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $56.00 in a research note on Thursday, September 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $56.00 price target (up from $55.00) on shares of Southern Company (The) in a research note on Tuesday, September 12th. Finally, Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Southern Company (The) currently has an average rating of “Hold” and a consensus target price of $48.90.

Shares of Southern Company (SO) opened at 49.59 on Friday. The company has a market capitalization of $49.56 billion, a price-to-earnings ratio of 81.56 and a beta of 0.13. The company’s 50 day moving average price is $49.06 and its 200 day moving average price is $49.36. Southern Company has a 52-week low of $46.20 and a 52-week high of $52.23.

Southern Company (The) (NYSE:SO) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. Southern Company (The)’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. On average, analysts predict that Southern Company will post $2.95 EPS for the current year.

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In other news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the transaction, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Southern Company (The) Profile

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.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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