Ferguson Wellman Capital Management Inc. Sells 159 Shares of The Southern Company (NYSE:SO)

Ferguson Wellman Capital Management Inc. cut its holdings in The Southern Company (NYSE:SO) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,258 shares of the utilities provider’s stock after selling 159 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Southern were worth $384,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in Southern during the 2nd quarter worth $39,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of Southern by 3,628.6% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider’s stock valued at $37,000 after buying an additional 508 shares in the last quarter. Cedar Wealth Management LLC grew its holdings in shares of Southern by 63.2% during the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 211 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Southern in the first quarter valued at approximately $39,000. Finally, Versant Capital Management Inc increased its stake in Southern by 31.8% in the second quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

Shares of NYSE:SO opened at $93.24 on Friday. The firm has a market cap of $101.95 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 3.22 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 Southern Company has a 52 week low of $64.53 and a 52 week high of $93.35. The firm’s fifty day moving average is $88.81 and its 200-day moving average is $81.71.

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

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.09%. Southern’s payout ratio is 74.42%.

Insider Buying and Selling

In other news, EVP Bryan D. Anderson sold 6,565 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the sale, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares of the company’s stock, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was 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 owns 12,500 shares of the company’s stock, valued at $1,112,375. This trade 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 sold 38,945 shares of company stock worth $3,488,826. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SO has been the topic of a number of analyst reports. Morgan Stanley lifted 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. Wells Fargo & Company lifted their price target on shares of Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Guggenheim upped their target price on Southern from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. UBS Group upped their price objective on Southern from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group began coverage on shares of Southern in a research report on Friday, September 20th. They set a “hold” rating and a $94.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $89.07.

About Southern

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.