Carroll Financial Associates Inc. decreased its position in shares of Southern Co. (NYSE:SO) by 7.2% during the third quarter, Holdings Channel reports. The institutional investor owned 33,309 shares of the company’s stock after selling 2,577 shares during the period. Carroll Financial Associates Inc.’s holdings in Southern were worth $1,708,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Southern by 5.6% in the second quarter. Vanguard Group Inc. now owns 60,379,260 shares of the company’s stock valued at $3,238,139,000 after buying an additional 3,222,084 shares during the last quarter. Capital International Investors raised its position in Southern by 517.2% in the second quarter. Capital International Investors now owns 3,225,300 shares of the company’s stock valued at $172,973,000 after buying an additional 2,702,700 shares during the last quarter. BlackRock Fund Advisors raised its position in Southern by 13.0% in the second quarter. BlackRock Fund Advisors now owns 19,032,403 shares of the company’s stock valued at $1,020,708,000 after buying an additional 2,194,490 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Southern during the second quarter valued at approximately $90,503,000. Finally, Bank of Montreal Can acquired a new position in Southern during the second quarter valued at approximately $77,486,000. Institutional investors and hedge funds own 50.49% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded up 1.11% during trading on Monday, hitting $48.31. 5,546,880 shares of the stock were exchanged. Southern Co. has a 12-month low of $43.72 and a 12-month high of $54.64. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 18.14 and a beta of 0.07. The firm has a 50 day moving average of $49.57 and a 200-day moving average of $51.19.
Southern (NYSE:SO) last issued its quarterly earnings data on Monday, October 31st. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.11. Southern had a net margin of 14.14% and a return on equity of 12.69%. The company earned $6.26 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the company earned $1.17 earnings per share. Southern’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts forecast that Southern Co. will post $2.90 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.69%. The ex-dividend date is Thursday, November 17th. Southern’s dividend payout ratio (DPR) is 83.27%.
Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. SunTrust Banks Inc. raised their price objective 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. Finally, Jefferies Group reissued a “hold” rating on shares of Southern in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $53.50.
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.