Wright Investors Service Inc. owns $953,000 in The Southern Company (NYSE:SO)

VaselineOctober 6, 2024

0 5 minutes read

Wright Investors Service Inc. lessened its holdings in shares of The Southern Company (NYSE:SO – Free Report) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,568 shares of the utilities provider’s stock after selling 213 shares during the quarter. The holdings of Wright Investors Service Inc. in Southern were worth $953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. acquired a new stake in shares of Southern during the fourth quarter valued at $31,000. Scarborough Advisors LLC acquired a new position in shares of Southern in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc boosted its position in shares of Southern by 62.0% in the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after buying an additional 170 shares during the last quarter. Financial Synergies Wealth Advisors Inc. raised its stake in Southern by 3,628.6% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 508 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in Southern during the fourth quarter valued at approximately $39,000. 64.10% of shares are currently owned by institutional investors and hedge funds.

Changes in Analyst Ratings

A number of research firms have recently issued reports on OS. BMO Capital Markets upped their target price on shares of Southern from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Scotiabank boosted their price objective on shares of Southern from $87.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on Southern in a research note on Friday, September 20th. They set a “hold” rating and a $94.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One equities 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. Southern currently has an average rating of “Hold” and an average target price of $88.27, according to MarketBeat.com.

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Insider trading at Southern

In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the company’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 sale, the executive vice president now owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. The trade was a 0.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. In related news, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the transaction, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This trade represents a 0.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s shares.

Southern price performance

SO traded down $0.39 on Friday, reaching $90.31. The company had a trading volume of 3,432,324 shares, compared to its average volume of 4,608,267. Southern Company has a 52-week low of $62.26 and a 52-week high of $91.86. The company has a market cap of $98.75 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 3.28 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66, and a current ratio of 0.91. The company has a 50-day simple moving average of $87.94 and a 200-day simple moving average of $80.34.

Southern (NYSE:SO – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted EPS of $0.79. As a group, sell-side analysts anticipate that The Southern Company will post 4.02 EPS for the current year.

Southern dividend announcement

The firm 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. This represents an annualized dividend of $2.88 and a dividend yield of 3.19%. The ex-dividend date was Monday, August 19. Southern’s dividend payout ratio (DPR) is currently 74.42%.

South profile

(Free report)

The Southern Company, through its subsidiaries, engages in the generation, transmission and distribution of electricity. The company also develops, builds, 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 providing gas trading services, gas distribution operations and gas pipeline investment operations.