Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Position in The Southern Company (NYSE:SO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in The Southern Company (NYSE:SO) by 38.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 983,175 shares of the utilities provider’s stock after acquiring an additional 272,410 shares during the quarter. Southern comprises 0.7% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 16th biggest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Southern were worth $60,927,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in Southern during the second quarter valued at about $27,000. Lion Street Advisors LLC purchased a new stake in Southern during the second quarter valued at about $32,000. Canton Hathaway LLC raised its position in Southern by 41.0% during the third quarter. Canton Hathaway LLC now owns 705 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 205 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in Southern during the third quarter valued at about $45,000. Finally, Parisi Gray Wealth Management purchased a new stake in Southern during the second quarter valued at about $55,000. Institutional investors own 59.05% of the company’s stock.

A number of research analysts have recently issued reports on the company. Mizuho raised Southern from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $60.00 in a research note on Monday, December 6th. UBS Group cut Southern from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 5th. KeyCorp lifted their price objective on Southern from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank lowered shares of Southern from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 15th. Finally, Morgan Stanley lifted their target price on shares of Southern from $61.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, December 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.64.

In other Southern news, EVP Christopher Cummiskey sold 2,000 shares of Southern stock in a transaction on Wednesday, December 1st. The stock was sold at an average price of $61.45, for a total value of $122,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel S. Tucker sold 2,350 shares of Southern stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $63.62, for a total value of $149,507.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,960 shares of company stock valued at $5,296,450. Corporate insiders own 0.43% of the company’s stock.

Shares of Southern stock traded up $0.27 on Friday, reaching $68.62. The company had a trading volume of 197,735 shares, compared to its average volume of 4,238,596. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.69 and a current ratio of 0.86. The firm has a market cap of $72.72 billion, a PE ratio of 24.15, a PEG ratio of 3.86 and a beta of 0.51. The firm’s 50 day moving average price is $65.13 and its two-hundred day moving average price is $64.27. The Southern Company has a 52-week low of $56.69 and a 52-week high of $69.23.

Southern (NYSE:SO) last released its quarterly earnings results on Thursday, November 4th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.01. Southern had a net margin of 13.40% and a return on equity of 11.38%. The company had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that The Southern Company will post 3.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 6th. Shareholders of record on Monday, November 15th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Friday, November 12th. Southern’s dividend payout ratio is presently 93.29%.

Southern Profile

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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