The Southern Company (NYSE:SO) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its holdings in The Southern Company (NYSE:SO) by 41.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,050 shares of the utilities provider’s stock after buying an additional 1,761 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Southern were worth $546,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Intech Investment Management LLC increased its position in Southern by 382.0% during the first quarter. Intech Investment Management LLC now owns 41,790 shares of the utilities provider’s stock worth $2,998,000 after buying an additional 33,120 shares in the last quarter. Nwam LLC increased its position in Southern by 8.8% during the first quarter. Nwam LLC now owns 11,605 shares of the utilities provider’s stock worth $890,000 after buying an additional 937 shares in the last quarter. Burke & Herbert Bank & Trust Co. increased its position in Southern by 149.5% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 16,230 shares of the utilities provider’s stock worth $1,259,000 after buying an additional 9,726 shares in the last quarter. HBW Advisory Services LLC increased its position in Southern by 219.4% during the third quarter. HBW Advisory Services LLC now owns 8,971 shares of the utilities provider’s stock worth $809,000 after buying an additional 6,162 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Southern during the second quarter worth $455,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Up 1.1 %

Shares of SO opened at $94.15 on Thursday. The stock’s 50-day moving average is $89.18 and its two-hundred day moving average is $82.20. The stock has a market cap of $102.95 billion, a PE ratio of 24.33, a P/E/G ratio of 3.34 and a beta of 0.52. The Southern Company has a 12 month low of $65.80 and a 12 month high of $94.18. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66.

Southern (NYSE:SO) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Southern had a return on equity of 12.88% and a net margin of 17.67%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Equities analysts forecast that The Southern Company will post 4.02 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio (DPR) is 74.42%.

Analyst Ratings Changes

A number of brokerages have recently commented on SO. UBS Group lifted their price objective on Southern from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price objective on Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Mizuho downgraded Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Monday, September 16th. Jefferies Financial Group began coverage on Southern in a research report on Friday, September 20th. They issued a “hold” rating and a $94.00 price objective for the company. Finally, Guggenheim lifted their price objective on Southern from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Southern has an average rating of “Hold” and a consensus target price of $89.07.

Insider Buying and Selling

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

Southern Company Profile

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.