Whittier Trust Co. of Nevada Inc. continued to hold its stake in shares of Southern Co. (NYSE:SO) during the second quarter, Holdings Channel reports. The institutional investor owned 2,260 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Southern were worth $121,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Zions Bancorporation boosted its stake in shares of Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock worth $132,000 after buying an additional 32 shares in the last quarter. Barnett & Company Inc. purchased a new stake in shares of Southern during the first quarter worth approximately $155,000. First New York Securities LLC NY purchased a new stake in shares of Southern during the second quarter worth approximately $166,000. Cribstone Capital Management LLC purchased a new stake in shares of Southern during the second quarter worth approximately $184,000. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Southern by 0.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 3,880 shares of the company’s stock worth $208,000 after buying an additional 20 shares in the last quarter. 48.64% of the stock is owned by institutional investors.
Shares of Southern Co. (NYSE:SO) traded up 1.72% during mid-day trading on Thursday, reaching $50.89. 3,820,592 shares of the company’s stock traded hands. The firm has a 50-day moving average of $51.48 and a 200 day moving average of $51.37. The company has a market cap of $47.92 billion, a P/E ratio of 20.20 and a beta of 0.08. Southern Co. has a 12-month low of $43.38 and a 12-month high of $54.64.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The business earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. Southern’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. Equities analysts forecast that Southern Co. will post $2.86 EPS for the current year.
A number of brokerages have commented on SO. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, September 27th. SunTrust Banks Inc. increased their price target on shares of Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Jefferies Group reiterated a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $54.00 price target on shares of Southern in a research note on Thursday, July 14th. Finally, Barclays PLC upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $54.00 to $62.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Southern has an average rating of “Hold” and an average target price of $53.50.
In other news, CEO Mark A. Crosswhite sold 167,273 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $53.30, for a total value of $8,915,650.90. Following the completion of the sale, the chief executive officer now owns 171,983 shares in the company, valued at approximately $9,166,693.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the completion of the sale, the executive vice president now owns 56,149 shares of the company’s stock, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.