Hayek Kallen Investment Management Sells 420 Shares of The Southern Company (NYSE:SO)

Hayek Kallen Investment Management trimmed its position in shares of The Southern Company (NYSE:SOFree Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,635 shares of the utilities provider’s stock after selling 420 shares during the period. Hayek Kallen Investment Management’s holdings in Southern were worth $2,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Rockline Wealth Management LLC bought a new stake in Southern in the 4th quarter valued at $1,945,000. Savant Capital LLC increased its holdings in shares of Southern by 4.3% in the 4th quarter. Savant Capital LLC now owns 65,937 shares of the utilities provider’s stock worth $4,624,000 after buying an additional 2,691 shares during the last quarter. Zullo Investment Group Inc. increased its holdings in shares of Southern by 4.8% in the 4th quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider’s stock worth $241,000 after buying an additional 157 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Southern by 5.8% in the 4th quarter. Global Retirement Partners LLC now owns 14,856 shares of the utilities provider’s stock worth $1,045,000 after buying an additional 819 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Southern in the 4th quarter worth about $1,325,000. 64.10% of the stock is currently owned by institutional investors.

Southern Stock Up 1.1 %

Shares of NYSE SO traded up $0.87 during trading hours on Friday, hitting $79.54. 4,833,749 shares of the stock were exchanged, compared to its average volume of 5,668,065. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The company has a market cap of $87.07 billion, a PE ratio of 20.55, a PEG ratio of 4.42 and a beta of 0.48. The firm has a fifty day moving average price of $72.50 and a 200-day moving average price of $70.45. The Southern Company has a 12 month low of $61.56 and a 12 month high of $79.85.

Southern (NYSE:SOGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. Southern’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, sell-side analysts expect that The Southern Company will post 3.99 EPS for the current year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. Southern’s payout ratio is 74.42%.

Insider Buying and Selling

In related news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the transaction, the chief executive officer now owns 126,528 shares in the company, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SO shares. Argus lifted their price target on shares of Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank dropped their price target on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Barclays lifted their price target on shares of Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Mizuho lifted their price target on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price objective on shares of Southern in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.73.

View Our Latest Analysis on SO

Southern Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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