Cullinan Associates Inc. lessened its stake in The Southern Company (NYSE:SO - Free Report) by 41.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,814 shares of the utilities provider's stock after selling 54,885 shares during the period. Cullinan Associates Inc.'s holdings in Southern were worth $6,323,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SO. Retirement Wealth Solutions LLC bought a new stake in Southern during the 4th quarter valued at $25,000. Frazier Financial Advisors LLC lifted its position in shares of Southern by 168.1% during the 3rd quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider's stock valued at $28,000 after buying an additional 195 shares during the last quarter. WFA Asset Management Corp grew its stake in Southern by 84.9% in the 4th quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider's stock valued at $35,000 after buying an additional 197 shares in the last quarter. Valley National Advisers Inc. boosted its stake in Southern by 244.4% in the 4th quarter. Valley National Advisers Inc. now owns 434 shares of the utilities provider's stock worth $35,000 after purchasing an additional 308 shares during the period. Finally, West Branch Capital LLC increased its holdings in Southern by 34.7% during the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider's stock worth $45,000 after acquiring an additional 129 shares during the period. 64.10% of the stock is currently owned by institutional investors.
Southern Stock Up 1.0 %
Shares of SO stock traded up $0.86 on Wednesday, hitting $84.06. The stock had a trading volume of 1,270,407 shares, compared to its average volume of 5,097,176. The Southern Company has a one year low of $65.80 and a one year high of $94.45. The business has a 50 day moving average price of $83.70 and a 200 day moving average price of $86.67. The company has a market cap of $92.10 billion, a PE ratio of 19.54, a P/E/G ratio of 2.86 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66.
Southern Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.43%. The ex-dividend date is Tuesday, February 18th. Southern's payout ratio is 66.98%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on SO shares. Guggenheim lowered shares of Southern from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. BMO Capital Markets cut their price objective on shares of Southern from $99.00 to $97.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Mizuho lifted their target price on shares of Southern from $83.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday. Morgan Stanley cut their price target on shares of Southern from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Friday, November 22nd. Finally, Barclays boosted their price objective on Southern from $71.00 to $83.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Southern presently has an average rating of "Hold" and a consensus price target of $89.79.
Read Our Latest Report on SO
Insider Activity at Southern
In other news, EVP Martin Bernard Davis sold 1,170 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $85.90, for a total transaction of $100,503.00. Following the completion of the sale, the executive vice president now owns 88,393 shares in the company, valued at $7,592,958.70. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.
Southern 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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