Community Trust & Investment Co. Takes $232,000 Position in Southern Co (NYSE:SO)

Community Trust & Investment Co. acquired a new stake in shares of Southern Co (NYSE:SO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,760 shares of the utilities provider’s stock, valued at approximately $232,000.

Several other large investors also recently made changes to their positions in the company. Pettyjohn Wood & White Inc. grew its stake in Southern by 0.3% in the 2nd quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock worth $3,366,000 after acquiring an additional 175 shares in the last quarter. Confluence Wealth Management LLC grew its stake in Southern by 2.2% in the 2nd quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock worth $445,000 after acquiring an additional 175 shares in the last quarter. 6 Meridian grew its stake in Southern by 1.8% in the 2nd quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock worth $568,000 after acquiring an additional 181 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Southern by 0.8% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock worth $1,296,000 after acquiring an additional 186 shares in the last quarter. Finally, St. Johns Investment Management Company LLC grew its stake in Southern by 1.9% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 10,573 shares of the utilities provider’s stock worth $584,000 after acquiring an additional 195 shares in the last quarter. 58.36% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP James Y. Kerr II sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $62.16, for a total transaction of $1,554,000.00. Following the completion of the sale, the executive vice president now owns 67,655 shares of the company’s stock, valued at $4,205,434.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen E. Kuczynski sold 123,533 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $61.87, for a total transaction of $7,642,986.71. Following the sale, the chief executive officer now directly owns 191,305 shares of the company’s stock, valued at approximately $11,836,040.35. The disclosure for this sale can be found here. Insiders have sold 202,533 shares of company stock valued at $12,386,567 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

Shares of SO traded down $0.15 during mid-day trading on Friday, hitting $61.65. The company’s stock had a trading volume of 131,043 shares, compared to its average volume of 4,194,808. The company’s 50-day moving average is $60.14 and its 200-day moving average is $55.89. Southern Co has a 52-week low of $42.50 and a 52-week high of $62.36. The firm has a market capitalization of $63.83 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.48 and a beta of 0.16. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 1.33.

Southern (NYSE:SO) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, beating the Zacks’ 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 company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. Southern’s revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Southern Co will post 3.04 earnings per share for the current fiscal year.

A number of brokerages have commented on SO. SunTrust Banks set a $59.00 target price on shares of Southern and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. UBS Group upped their target price on shares of Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Bank of America upped their price target on shares of Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays reaffirmed a “hold” rating and issued a $57.00 price target on shares of Southern in a research report on Wednesday, June 19th. Finally, Morgan Stanley lowered their price target on shares of Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Friday, August 16th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Southern currently has a consensus rating of “Hold” and an average target price of $55.70.

Southern Profile

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.

See Also: Growth and Income Funds

Institutional Ownership by Quarter for Southern (NYSE:SO)

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