Valeo Financial Advisors LLC Purchases New Holdings in Southern Company (The) (SO)
Valeo Financial Advisors LLC bought a new position in Southern Company (The) (NYSE:SO) in the third quarter, according to its most recent filing with the SEC. The firm bought 8,602 shares of the utilities provider’s stock, valued at approximately $423,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Cambria Investment Management L.P. lifted its stake in Southern by 192.6% during the 3rd quarter. Cambria Investment Management L.P. now owns 113,239 shares of the utilities provider’s stock valued at $5,565,000 after acquiring an additional 74,535 shares during the period. AlphaStar Capital Management LLC acquired a new stake in Southern during the 3rd quarter valued at approximately $302,000. Kalos Management Inc. acquired a new stake in Southern during the 3rd quarter valued at approximately $343,000. Point72 Asset Management L.P. acquired a new stake in Southern during the 3rd quarter valued at approximately $2,211,000. Finally, Cedar Hill Associates LLC acquired a new stake in Southern during the 3rd quarter valued at approximately $420,000. Institutional investors own 53.66% of the company’s stock.
In other news, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $4,257,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total transaction of $261,400.00. Following the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at approximately $386,558.32. The disclosure for this sale can be found here. In the last three months, insiders sold 213,813 shares of company stock valued at $11,029,988. 1.00% of the stock is owned by insiders.
Several brokerages have commented on SO. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, December 12th. Mizuho restated a “buy” rating and set a $55.00 price objective on shares of Southern in a research note on Friday, December 8th. Bank of America reaffirmed an “underperform” rating and set a $51.00 target price on shares of Southern in a report on Tuesday, October 24th. SunTrust Banks reaffirmed a “hold” rating and set a $52.00 target price on shares of Southern in a report on Friday, October 20th. Finally, Citigroup reaffirmed a “sell” rating and set a $44.00 target price (up from $43.00) on shares of Southern in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.92.
Shares of Southern Company (NYSE:SO) opened at $48.50 on Friday. The company has a market cap of $48,680.00, a price-to-earnings ratio of 86.61, a P/E/G ratio of 3.72 and a beta of 0.13. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. Southern Company has a 1-year low of $46.71 and a 1-year high of $53.51.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 EPS. analysts expect that Southern Company will post 2.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Monday, November 20th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.78%. The ex-dividend date was Friday, November 17th. Southern’s payout ratio is presently 414.29%.
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Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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