Sunburst Financial Group LLC Grows Stock Holdings in Southern Co (NYSE:SO)

Sunburst Financial Group LLC grew its holdings in Southern Co (NYSE:SO) by 4.7% during the third quarter, HoldingsChannel reports. The firm owned 8,935 shares of the utilities provider’s stock after acquiring an additional 401 shares during the period. Southern comprises about 0.4% of Sunburst Financial Group LLC’s investment portfolio, making the stock its 29th biggest holding. Sunburst Financial Group LLC’s holdings in Southern were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in SO. Vigilant Capital Management LLC boosted its position in Southern by 8.3% in the 3rd quarter. Vigilant Capital Management LLC now owns 2,274 shares of the utilities provider’s stock valued at $123,000 after buying an additional 174 shares during the period. Essex Financial Services Inc. lifted its position in Southern by 1.0% in the second quarter. Essex Financial Services Inc. now owns 18,297 shares of the utilities provider’s stock valued at $949,000 after acquiring an additional 189 shares during the last quarter. First National Bank of Omaha lifted its position in Southern by 2.1% in the second quarter. First National Bank of Omaha now owns 9,930 shares of the utilities provider’s stock valued at $515,000 after acquiring an additional 200 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its position in Southern by 3.0% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 6,825 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 200 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in Southern by 1.8% in the second quarter. Silvercrest Asset Management Group LLC now owns 12,087 shares of the utilities provider’s stock valued at $627,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 57.29% of the company’s stock.

In other Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief executive officer now directly owns 76,996 shares of the company’s stock, valued at approximately $4,234,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher C. Womack sold 5,930 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $58.00, for a total value of $343,940.00. Following the sale, the executive vice president now directly owns 12,228 shares of the company’s stock, valued at $709,224. The disclosure for this sale can be found here. Insiders sold a total of 23,721 shares of company stock worth $1,301,040 in the last three months. Insiders own 0.39% of the company’s stock.

NYSE SO opened at $58.35 on Friday. Southern Co has a 12-month low of $41.96 and a 12-month high of $71.10. The stock has a market capitalization of $61.63 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 4.10 and a beta of 0.39. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average price of $54.22 and a two-hundred day moving average price of $54.71.

Southern (NYSE:SO) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.11. Southern had a net margin of 15.83% and a return on equity of 10.47%. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Southern’s revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Southern Co will post 3.16 EPS for the current year.

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a research note on Monday, September 21st. Mizuho downgraded shares of Southern from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $53.00 to $48.00 in a report on Thursday, September 10th. Morgan Stanley upped their price target on shares of Southern from $56.00 to $57.00 and gave the company an “underweight” rating in a report on Monday, October 5th. KeyCorp reduced their price objective on shares of Southern from $71.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, UBS Group reduced their price objective on shares of Southern from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.90.

Southern Company 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.

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Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co (NYSE:SO).

Institutional Ownership by Quarter for Southern (NYSE:SO)

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