Flputnam Investment Management Co. Sells 1,448 Shares of The Southern Company (NYSE:SO)

Flputnam Investment Management Co. lessened its position in shares of The Southern Company (NYSE:SO) by 13.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,218 shares of the utilities provider’s stock after selling 1,448 shares during the period. Flputnam Investment Management Co.’s holdings in Southern were worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Sanctuary Wealth Management L.L.C. purchased a new position in Southern during the fourth quarter worth about $34,000. BKM Wealth Management LLC purchased a new stake in Southern in the 4th quarter worth approximately $34,000. Valley National Advisers Inc. lifted its stake in Southern by 63.9% in the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 205 shares in the last quarter. RVW Wealth LLC bought a new position in shares of Southern in the 3rd quarter worth $35,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Southern in the 1st quarter worth $43,000. Institutional investors own 64.10% of the company’s stock.

Insider Transactions at Southern

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the transaction, the chief executive officer now directly owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now owns 22,502 shares of the company’s stock, valued at approximately $1,508,984.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the completion of the sale, the chief executive officer now directly owns 126,528 shares in the company, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,899 shares of company stock worth $739,587. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SO. UBS Group lowered shares of Southern from a “buy” rating to a “neutral” rating and reduced their target price for the company from $78.00 to $76.00 in a report on Thursday, April 4th. BMO Capital Markets reissued an “outperform” rating and issued a $76.00 price target (up previously from $72.00) on shares of Southern in a report on Monday, April 1st. Mizuho raised their target price on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays raised their target price on shares of Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of Southern in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.07.

Southern Price Performance

Southern stock opened at $69.80 on Thursday. The company has a market cap of $76.41 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 4.23 and a beta of 0.49. The firm’s fifty day moving average is $68.84 and its 200 day moving average is $68.98. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The Southern Company has a 52-week low of $61.56 and a 52-week high of $75.80.

Southern (NYSE:SO) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s revenue was down 14.2% compared to the same quarter last year. Sell-side analysts forecast that The Southern Company will post 4 EPS for the current fiscal year.

Southern 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.