The Southern Company (NYSE:SO) is Confluence Investment Management LLC’s 8th Largest Position

Confluence Investment Management LLC trimmed its stake in The Southern Company (NYSE:SO) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,672,649 shares of the utilities provider’s stock after selling 32,913 shares during the quarter. Southern makes up 2.0% of Confluence Investment Management LLC’s holdings, making the stock its 8th biggest position. Confluence Investment Management LLC owned approximately 0.15% of Southern worth $150,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in shares of Southern in the first quarter valued at $39,000. Cedar Wealth Management LLC raised its stake in Southern by 63.2% in the 1st quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 211 shares during the period. TruNorth Capital Management LLC purchased a new stake in Southern during the second quarter valued at about $39,000. Versant Capital Management Inc boosted its position in Southern by 31.8% during the second quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 141 shares during the period. Finally, West Branch Capital LLC increased its stake in shares of Southern by 34.7% in the third quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity

In related news, CEO James Y. Kerr II sold 30,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the sale, the chief executive officer now directly owns 145,088 shares in the company, valued at $13,005,688.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $89.64, for a total value of $2,689,200.00. Following the sale, the chief executive officer now directly owns 145,088 shares of the company’s stock, valued at $13,005,688.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan D. Anderson sold 6,565 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares of the company’s stock, valued at $3,981,575.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Southern Price Performance

SO opened at $86.93 on Friday. The stock has a market capitalization of $95.25 billion, a P/E ratio of 20.22, a PEG ratio of 3.14 and a beta of 0.52. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45. The stock has a 50-day moving average price of $89.86 and a 200-day moving average price of $83.62.

Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. Equities analysts predict that The Southern Company will post 4.04 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $0.72 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a yield of 3.31%. Southern’s payout ratio is currently 66.98%.

Analyst Ratings Changes

SO has been the subject of a number of analyst reports. Mizuho lowered Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Monday, September 16th. BMO Capital Markets reduced their target price on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Barclays increased their target price on shares of Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.27.

Southern Profile

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.