Hayek Kallen Investment Management lessened its stake in shares of The Southern Company (NYSE:SO – Free Report) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,323 shares of the utilities provider’s stock after selling 462 shares during the period. Hayek Kallen Investment Management’s holdings in Southern were worth $2,825,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of SO. Vista Capital Partners Inc. lifted its stake in shares of Southern by 1.4% during the second quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock worth $678,000 after buying an additional 118 shares during the period. Modera Wealth Management LLC lifted its position in Southern by 1.4% during the 2nd quarter. Modera Wealth Management LLC now owns 9,048 shares of the utilities provider’s stock worth $702,000 after acquiring an additional 124 shares during the period. Red Door Wealth Management LLC grew its stake in Southern by 0.9% during the 2nd quarter. Red Door Wealth Management LLC now owns 13,926 shares of the utilities provider’s stock valued at $1,080,000 after purchasing an additional 125 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in shares of Southern by 2.1% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,352 shares of the utilities provider’s stock valued at $493,000 after purchasing an additional 128 shares during the period. Finally, Moloney Securities Asset Management LLC raised its stake in shares of Southern by 2.0% in the second quarter. Moloney Securities Asset Management LLC now owns 6,595 shares of the utilities provider’s stock worth $512,000 after purchasing an additional 131 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.
Southern Price Performance
Southern stock traded up $1.49 during trading on Tuesday, reaching $91.33. The company had a trading volume of 1,115,510 shares, compared to its average volume of 4,439,459. The firm has a market capitalization of $99.86 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 3.16 and a beta of 0.52. The firm’s 50-day simple moving average is $88.37 and its 200 day simple moving average is $81.20. 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 Southern Company has a 1-year low of $64.53 and a 1-year high of $91.86.
Analyst Ratings Changes
A number of brokerages recently commented on SO. Guggenheim upped their target price on Southern from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Morgan Stanley raised their target price on shares of Southern from $78.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. UBS Group upped their price target on shares of Southern from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Barclays lifted their price objective on Southern from $66.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.27.
View Our Latest Stock Report on Southern
Insider Buying and Selling at Southern
In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of Southern 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 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 legal filing with the SEC, which is available at this link. In other Southern news, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 145,088 shares of the company’s stock, valued at $13,005,688.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,945 shares of company stock valued at $3,488,826 over the last quarter. 0.18% of the stock is currently owned by insiders.
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.
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