Calamos Advisors LLC lowered its position in Southern Co (NYSE:SO) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,805 shares of the utilities provider’s stock after selling 2,264 shares during the quarter. Calamos Advisors LLC’s holdings in Southern were worth $13,556,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Lenox Wealth Advisors LLC acquired a new position in Southern in the third quarter valued at $25,000. KCS Wealth Advisory acquired a new position in Southern in the third quarter valued at $25,000. Salomon & Ludwin LLC acquired a new position in Southern in the second quarter valued at $29,000. Venturi Wealth Management LLC acquired a new position in Southern in the third quarter valued at $34,000. Finally, Alpha Windward LLC acquired a new position in Southern in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 58.97% of the company’s stock.
In other news, CEO Stephen E. Kuczynski sold 2,000 shares of Southern stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $62.22, for a total transaction of $124,440.00. Following the sale, the chief executive officer now directly owns 65,772 shares of the company’s stock, valued at $4,092,333.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher C. Womack sold 54,966 shares of Southern stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $64.50, for a total value of $3,545,307.00. Following the sale, the executive vice president now directly owns 65,131 shares in the company, valued at $4,200,949.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,157,220 shares of company stock worth $135,771,433. 0.88% of the stock is currently owned by insiders.
A number of brokerages recently weighed in on SO. Evercore ISI reiterated a “hold” rating and issued a $63.50 target price on shares of Southern in a report on Sunday, December 15th. JPMorgan Chase & Co. lifted their target price on Southern from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Credit Suisse Group lifted their target price on Southern from $60.00 to $64.00 and gave the company an “underperform” rating in a report on Wednesday, December 18th. Finally, SunTrust Banks lifted their target price on Southern from $60.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Southern presently has a consensus rating of “Hold” and a consensus price target of $59.77.
Shares of SO opened at $65.58 on Thursday. The stock’s 50-day moving average is $62.75 and its two-hundred day moving average is $60.16. The stock has a market cap of $66.76 billion, a PE ratio of 21.36, a P/E/G ratio of 4.45 and a beta of 0.15. Southern Co has a 12 month low of $46.26 and a 12 month high of $65.70. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.94 and a quick ratio of 0.77.
Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.20. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Southern had a return on equity of 10.52% and a net margin of 21.02%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. On average, research analysts anticipate that Southern Co will post 3.09 earnings per share for the current year.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
Further Reading: Equal Weight Rating
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