UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $381.38 Million Holdings in The Southern Company (NYSE:SO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in The Southern Company (NYSE:SO) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,229,116 shares of the utilities provider’s stock after selling 529,364 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.39% of Southern worth $381,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vista Capital Partners Inc. raised its stake in Southern by 1.4% in the second quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock valued at $678,000 after purchasing an additional 118 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in Southern by 3.8% in the third quarter. Stanley Laman Group Ltd. now owns 3,246 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 119 shares in the last quarter. DT Investment Partners LLC raised its stake in Southern by 5.8% in the third quarter. DT Investment Partners LLC now owns 2,201 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 121 shares in the last quarter. Birchcreek Wealth Management LLC raised its stake in Southern by 4.5% in the third quarter. Birchcreek Wealth Management LLC now owns 2,836 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 121 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in Southern by 4.3% during the third quarter. Truvestments Capital LLC now owns 3,011 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $89.74 on Friday. The business’s 50 day simple moving average is $89.73 and its 200 day simple moving average is $85.00. The Southern Company has a one year low of $65.80 and a one year high of $94.45. The stock has a market capitalization of $98.33 billion, a PE ratio of 20.87, a PEG ratio of 3.27 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66.

Southern (NYSE:SO) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.33 by $0.10. Southern had a return on equity of 12.78% and a net margin of 17.87%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.14 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts forecast that The Southern Company will post 4.03 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio (DPR) is presently 66.98%.

Insider Buying and Selling at Southern

In other Southern 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 value 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 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $89.64, for a total value of $2,689,200.00. Following the completion of the transaction, the chief executive officer now directly owns 145,088 shares in the company, valued at approximately $13,005,688.32. This trade represents a 17.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SO. Barclays boosted their target price on Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Guggenheim boosted their target price on Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group began coverage on Southern in a research note on Friday, September 20th. They set a “hold” rating and a $94.00 target price for the company. UBS Group boosted their target price on Southern from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price on Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Southern presently has an average rating of “Hold” and an average price target of $89.47.

Southern Company 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.