Southern Company (The) (SO) Holdings Cut by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lowered its holdings in shares of Southern Company (The) (NYSE:SO) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,518 shares of the utilities provider’s stock after selling 459 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Southern Company (The) were worth $1,318,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new position in shares of Southern Company (The) in the second quarter valued at approximately $100,000. Symmetry Partners LLC purchased a new position in shares of Southern Company (The) in the first quarter valued at approximately $103,000. Stuart Chaussee & Associates Inc. lifted its position in shares of Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 1,740 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Southern Company (The) by 15.3% in the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 302 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its position in shares of Southern Company (The) by 115.7% in the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 1,260 shares in the last quarter. Institutional investors own 53.27% of the company’s stock.

Several research firms have recently weighed in on SO. Zacks Investment Research upgraded Southern Company (The) from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday. Citigroup Inc. restated a “sell” rating and issued a $44.00 target price (up previously from $43.00) on shares of Southern Company (The) in a research report on Tuesday, October 3rd. Royal Bank Of Canada upgraded Southern Company (The) from a “sector perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a research report on Friday, September 29th. Guggenheim upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $56.00 target price (up previously from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Southern Company (The) currently has a consensus rating of “Hold” and a consensus price target of $49.44.

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Shares of Southern Company (SO) opened at 50.74 on Friday. The company has a 50 day moving average price of $49.31 and a 200 day moving average price of $49.35. Southern Company has a 12-month low of $46.20 and a 12-month high of $52.23. The firm has a market cap of $50.71 billion, a PE ratio of 83.45 and a beta of 0.13.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the company earned $0.74 EPS. Southern Company (The)’s revenue was up 21.7% on a year-over-year basis. On average, analysts forecast that Southern Company will post $2.95 earnings per share for the current fiscal year.

In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the transaction, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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