Nordea Investment Management AB Has $3.77 Million Stock Position in The Southern Company (NYSE:SO)

Nordea Investment Management AB decreased its stake in shares of The Southern Company (NYSE:SOFree Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,853 shares of the utilities provider’s stock after selling 634 shares during the period. Nordea Investment Management AB’s holdings in Southern were worth $3,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SO. Voisard Asset Management Group Inc. acquired a new position in Southern during the 4th quarter valued at about $31,000. Scarborough Advisors LLC acquired a new position in Southern during the 4th quarter valued at about $31,000. Versant Capital Management Inc lifted its position in Southern by 62.0% during the 1st quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 170 shares during the period. BKM Wealth Management LLC acquired a new position in Southern during the 4th quarter valued at about $34,000. Finally, Valley National Advisers Inc. lifted its position in Southern by 63.9% during the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

NYSE SO opened at $78.12 on Wednesday. The business has a 50 day simple moving average of $78.15 and a 200 day simple moving average of $72.63. The Southern Company has a 52-week low of $61.56 and a 52-week high of $80.84. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.65 and a current ratio of 0.92. The stock has a market cap of $85.42 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.80 and a beta of 0.51.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. Analysts anticipate that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Monday, May 20th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.69%. This is an increase from Southern’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 17th. Southern’s payout ratio is presently 74.42%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SO. UBS Group downgraded shares of Southern from a “buy” rating to a “neutral” rating and cut their target price for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Argus upped their target price on shares of Southern from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $76.00 price target (up from $72.00) on shares of Southern in a research report on Monday, April 1st. Mizuho increased their price target on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Barclays increased their price target on shares of Southern from $66.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.50.

Read Our Latest Analysis on Southern

Insiders Place Their Bets

In other news, EVP Sloane N. Drake sold 12,000 shares of Southern stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total value of $931,320.00. Following the completion of the transaction, the executive vice president now owns 16,771 shares of the company’s stock, valued at approximately $1,301,597.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sloane N. Drake sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total transaction of $931,320.00. Following the completion of the sale, the executive vice president now directly owns 16,771 shares in the company, valued at $1,301,597.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,026 shares of company stock valued at $2,151,644. 0.18% of the stock is currently owned by corporate insiders.

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.

See Also

Institutional Ownership by Quarter for Southern (NYSE:SO)

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