UBS Asset Management Americas Inc. Has $208,780,000 Position in Southern Co. (SO)
UBS Asset Management Americas Inc. increased its stake in shares of Southern Co. (NYSE:SO) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,069,783 shares of the company’s stock after buying an additional 139,492 shares during the period. UBS Asset Management Americas Inc. owned 0.43% of Southern worth $208,780,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Acropolis Investment Management LLC acquired a new position in Southern during the third quarter valued at $101,000. CWM LLC increased its position in Southern by 229.9% in the third quarter. CWM LLC now owns 2,039 shares of the company’s stock valued at $105,000 after buying an additional 1,421 shares in the last quarter. Krilogy Financial LLC increased its position in Southern by 87.8% in the second quarter. Krilogy Financial LLC now owns 2,066 shares of the company’s stock valued at $111,000 after buying an additional 966 shares in the last quarter. Ledyard National Bank increased its position in Southern by 112.3% in the third quarter. Ledyard National Bank now owns 2,410 shares of the company’s stock valued at $124,000 after buying an additional 1,275 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in Southern by 447.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,471 shares of the company’s stock valued at $133,000 after buying an additional 2,020 shares in the last quarter. Institutional investors and hedge funds own 50.49% of the company’s stock.
Southern Co. (NYSE:SO) opened at 46.82 on Thursday. The firm has a market cap of $45.88 billion, a PE ratio of 17.58 and a beta of 0.07. Southern Co. has a one year low of $43.72 and a one year high of $54.64. The company has a 50 day moving average of $49.57 and a 200-day moving average of $51.19.
Southern (NYSE:SO) last released its quarterly earnings results on Monday, October 31st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. Southern had a net margin of 14.14% and a return on equity of 12.69%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Southern Co. will post $2.90 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be paid a dividend of $0.56 per share. The ex-dividend date is Thursday, November 17th. This represents a $2.24 annualized dividend and a dividend yield of 4.78%. Southern’s dividend payout ratio is currently 83.27%.
Several research firms have recently weighed in on SO. SunTrust Banks Inc. raised their price target on shares of Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, September 26th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, September 27th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Southern currently has a consensus rating of “Hold” and an average target price of $53.50.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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