The Beck Mack & Oliver LLC reached $983,000 position of Southern Co. (SO)

The Beck Mack & Oliver LLC reached $983,000 position  of Southern Co. (SO)

Beck Mack & Oliver LLC continued to hold its position in shares of Southern Co. (NYSE:SO) during the second quarter, Holdings Channel reports. The firm owned 18,325 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Southern were worth $983,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CapWealth Advisors LLC raised its position in shares of Southern by 2.9% in the first quarter. CapWealth Advisors LLC now owns 19,126 shares of the company’s stock valued at $989,000 after buying an additional 531 shares in the last quarter. M&T Bank Corp raised its position in shares of Southern by 5.5% in the first quarter. M&T Bank Corp now owns 619,251 shares of the company’s stock valued at $32,032,000 after buying an additional 32,102 shares in the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of Southern during the first quarter valued at about $1,428,000. Aviva PLC raised its position in shares of Southern by 1.7% in the first quarter. Aviva PLC now owns 465,431 shares of the company’s stock valued at $24,077,000 after buying an additional 7,645 shares in the last quarter. Finally, Associated Banc Corp raised its position in shares of Southern by 1.9% in the first quarter. Associated Banc Corp now owns 119,168 shares of the company’s stock valued at $6,165,000 after buying an additional 2,228 shares in the last quarter. 48.64% of the stock is currently owned by institutional investors and hedge funds.

Southern Co. (NYSE:SO) traded up 0.287% on Monday, hitting $50.705. 1,580,166 shares of the company were exchanged. Southern Co. has a 52 week low of $43.38 and a 52 week high of $54.64. The stock has a market capitalization of $47.74 billion, a P/E ratio of 20.129 and a beta of 0.08. The company has a 50 day moving average price of $51.41 and a 200-day moving average price of $51.37.

Southern (NYSE:SO) last released its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities analysts expect that Southern Co. will post $2.86 earnings per share for the current fiscal year.

SO has been the topic of a number of recent research reports. Mizuho reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Southern in a research note on Monday, July 11th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research note on Monday, July 11th. Barclays PLC raised shares of Southern from an “equal weight” rating to an “overweight” rating and raised their price objective 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. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research note on Thursday, July 14th. Finally, SunTrust Banks Inc. dropped their price objective on shares of Southern from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, August 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Southern presently has a consensus rating of “Hold” and a consensus price target of $53.50.

In related news, CEO Mark A. Crosswhite sold 167,273 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 171,983 shares in the company, valued at approximately $9,166,693.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 56,149 shares in the company, 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.

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