Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Southern Co (NYSE:SO)

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Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Southern Co (NYSE:SO) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 185,813 shares of the utilities provider’s stock after selling 8,047 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southern were worth $11,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC raised its holdings in Southern by 31.4% in the 3rd quarter. CWM LLC now owns 402,808 shares of the utilities provider’s stock valued at $24,881,000 after buying an additional 96,358 shares during the period. Cahaba Wealth Management Inc. grew its position in Southern by 3.5% in the 3rd quarter. Cahaba Wealth Management Inc. now owns 98,450 shares of the utilities provider’s stock valued at $6,081,000 after acquiring an additional 3,287 shares in the last quarter. Eaton Vance Management grew its position in Southern by 9.4% in the 2nd quarter. Eaton Vance Management now owns 141,343 shares of the utilities provider’s stock valued at $7,813,000 after acquiring an additional 12,169 shares in the last quarter. Northstar Investment Advisors LLC grew its position in Southern by 14.1% in the 3rd quarter. Northstar Investment Advisors LLC now owns 160,919 shares of the utilities provider’s stock valued at $9,375,000 after acquiring an additional 19,833 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Southern by 8.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 43,677 shares of the utilities provider’s stock valued at $2,698,000 after acquiring an additional 3,331 shares in the last quarter. Institutional investors and hedge funds own 58.97% of the company’s stock.

In other news, CEO Stephen E. Kuczynski sold 2,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $62.22, for a total transaction of $124,440.00. Following the completion of the transaction, the chief executive officer now directly owns 65,772 shares of the company’s stock, valued at $4,092,333.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony L. Wilson sold 61,018 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $65.00, for a total value of $3,966,170.00. Following the transaction, the chief executive officer now directly owns 90,208 shares of the company’s stock, valued at $5,863,520. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,218,238 shares of company stock valued at $139,737,603. Corporate insiders own 0.88% of the company’s stock.

Several research firms have weighed in on SO. Credit Suisse Group lifted their target price on Southern from $60.00 to $64.00 and gave the company an “underperform” rating in a research report on Wednesday, December 18th. SunTrust Banks lifted their target price on Southern from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on Southern from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $67.00 target price on shares of Southern in a research report on Sunday, January 19th. Finally, Morgan Stanley lifted their target price on Southern from $58.00 to $60.00 and gave the company an “underweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.88.

Shares of Southern stock opened at $68.96 on Friday. Southern Co has a one year low of $47.11 and a one year high of $68.99. The company has a market cap of $71.63 billion, a PE ratio of 15.67, a P/E/G ratio of 4.79 and a beta of 0.15. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.77 and a current ratio of 0.94. The business has a 50-day simple moving average of $63.62 and a 200-day simple moving average of $60.64.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.20. Southern had a return on equity of 10.52% and a net margin of 21.02%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that Southern Co will post 3.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Friday, February 14th. Southern’s dividend payout ratio is presently 80.78%.

Southern Profile

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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