Moisand Fitzgerald Tamayo LLC Sells 310 Shares of The Southern Company (NYSE:SO)

by · The Markets Daily

Moisand Fitzgerald Tamayo LLC cut its holdings in The Southern Company (NYSE:SO – Free Report) by 33.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 617 shares of the utilities provider’s stock after selling 310 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in Southern were worth $56,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. CCM Investment Advisers LLC lifted its stake in Southern by 1.1% in the third quarter. CCM Investment Advisers LLC now owns 140,529 shares of the utilities provider’s stock valued at $12,673,000 after buying an additional 1,475 shares during the period. Albion Financial Group UT lifted its stake in Southern by 2.3% in the third quarter. Albion Financial Group UT now owns 79,070 shares of the utilities provider’s stock valued at $7,131,000 after buying an additional 1,771 shares during the period. Keeler & Nadler Financial Planning & Wealth Management acquired a new position in shares of Southern during the third quarter worth approximately $230,000. Tobam raised its position in shares of Southern by 25.7% during the third quarter. Tobam now owns 4,940 shares of the utilities provider’s stock worth $445,000 after purchasing an additional 1,011 shares during the period. Finally, GEM Asset Management LLC raised its position in shares of Southern by 10.4% during the third quarter. GEM Asset Management LLC now owns 4,230 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 400 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Southern

In other news, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares in the company, valued at approximately $13,005,688.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares in the company, valued at approximately $13,005,688.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the transaction, the executive vice president now owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,945 shares of company stock worth $3,488,826. 0.18% of the stock is owned by company insiders.

Southern Stock Down 0.7 %

Shares of NYSE:SO opened at $88.27 on Friday. The company has a market capitalization of $96.52 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The business has a fifty day moving average price of $88.30 and a two-hundred day moving average price of $80.79. The Southern Company has a 1 year low of $64.53 and a 1 year high of $91.86.

Southern (NYSE:SO – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.10 billion. Southern had a return on equity of 12.88% and a net margin of 17.67%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. Analysts forecast that The Southern Company will post 4.02 earnings per share for the current year.

Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 19th were paid a dividend of $0.72 per share. The ex-dividend date was Monday, August 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.26%. Southern’s payout ratio is 68.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on Southern from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group upped their target price on Southern from $83.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research lowered Southern from an “outperform” rating to a “peer perform” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Mizuho lowered Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Southern has a consensus rating of “Hold” and an average price target of $88.27.

Get Our Latest Stock Report on Southern

Southern Company Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

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