Camden National Bank grew its holdings in Southern Company (The) (NYSE:SO) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,058 shares of the utilities provider’s stock after purchasing an additional 1,004 shares during the quarter. Camden National Bank’s holdings in Southern were worth $3,787,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of SO. BlackRock Inc. grew its position in shares of Southern by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after purchasing an additional 60,040,696 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Southern by 3,580.1% in the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after buying an additional 4,546,503 shares during the period. Capital Research Global Investors lifted its stake in shares of Southern by 25.3% in the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares during the period. Vanguard Group Inc. lifted its stake in shares of Southern by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Southern by 3.6% in the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares during the period. 53.78% of the stock is currently owned by institutional investors.
In other Southern news, insider Ann P. Daiss sold 5,080 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $53.28, for a total transaction of $270,662.40. Following the completion of the transaction, the insider now owns 7,474 shares in the company, valued at $398,214.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,813 shares of company stock valued at $11,029,988. Corporate insiders own 0.74% of the company’s stock.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. analysts expect that Southern Company will post 2.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s dividend payout ratio is 414.29%.
Several equities research analysts recently weighed in on SO shares. Zacks Investment Research cut shares of Southern from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Jefferies Group reiterated a “buy” rating and issued a $56.00 target price (up previously from $55.00) on shares of Southern in a research note on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Southern in a research note on Friday, September 1st. Mizuho upgraded shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, September 5th. Finally, Bank of America reiterated an “underperform” rating and issued a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.92.
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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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