Western Wealth Management LLC Boosts Holdings in Southern Co (NYSE:SO)

Western Wealth Management LLC boosted its position in shares of Southern Co (NYSE:SO) by 4,715.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 280,886 shares of the utilities provider’s stock after acquiring an additional 275,053 shares during the period. Southern accounts for 1.9% of Western Wealth Management LLC’s holdings, making the stock its 14th biggest position. Western Wealth Management LLC’s holdings in Southern were worth $14,426,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Associated Banc Corp lifted its position in Southern by 1.3% during the second quarter. Associated Banc Corp now owns 127,219 shares of the utilities provider’s stock valued at $7,033,000 after acquiring an additional 1,623 shares during the last quarter. Lincoln National Corp lifted its position in Southern by 14.5% during the second quarter. Lincoln National Corp now owns 38,601 shares of the utilities provider’s stock valued at $2,134,000 after acquiring an additional 4,880 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV raised its holdings in shares of Southern by 10.0% in the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 15,248 shares of the utilities provider’s stock worth $843,000 after buying an additional 1,381 shares during the last quarter. IFG Advisory LLC raised its holdings in shares of Southern by 6.1% in the second quarter. IFG Advisory LLC now owns 55,706 shares of the utilities provider’s stock worth $3,079,000 after buying an additional 3,212 shares during the last quarter. Finally, TrinityPoint Wealth LLC raised its holdings in shares of Southern by 6.3% in the second quarter. TrinityPoint Wealth LLC now owns 13,482 shares of the utilities provider’s stock worth $750,000 after buying an additional 800 shares during the last quarter. 57.72% of the stock is owned by institutional investors.

In related news, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $53.50, for a total transaction of $107,000.00. Following the sale, the chief executive officer now owns 75,772 shares in the company, valued at $4,053,802. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ann P. Daiss sold 11,625 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $55.18, for a total transaction of $641,467.50. Following the sale, the insider now owns 17,862 shares in the company, valued at approximately $985,625.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 765,761 shares of company stock valued at $42,205,297. 0.88% of the stock is currently owned by corporate insiders.

SO has been the subject of a number of research analyst reports. Evercore ISI raised shares of Southern from an “in-line” rating to an “outperform” rating in a report on Friday, May 3rd. Barclays reaffirmed a “hold” rating and issued a $57.00 price target on shares of Southern in a report on Wednesday, June 19th. Mizuho raised their price target on shares of Southern from $48.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Morgan Stanley decreased their price target on shares of Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a report on Friday, August 16th. Finally, Bank of America decreased their price target on shares of Southern from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.10.

Shares of Southern stock traded down $0.31 during trading on Friday, hitting $58.14. 241,439 shares of the company’s stock were exchanged, compared to its average volume of 5,355,973. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.59 and a current ratio of 0.76. The business has a 50-day simple moving average of $56.63 and a 200-day simple moving average of $53.45. Southern Co has a 52-week low of $42.50 and a 52-week high of $58.78. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 4.23 and a beta of 0.18.

Southern (NYSE:SO) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter last year, the company posted $0.80 earnings per share. The firm’s revenue was down 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Southern Co will post 3.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 19th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.48 annualized dividend and a dividend yield of 4.27%. Southern’s dividend payout ratio (DPR) is presently 80.78%.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

Further Reading: Growth and Income Funds

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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