Edgar Lomax Co. VA lowered its stake in Southern Company (The) (NYSE:SO) by 14.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 464,692 shares of the utilities provider’s stock after selling 77,326 shares during the period. Southern Company (The) comprises approximately 1.5% of Edgar Lomax Co. VA’s portfolio, making the stock its 24th largest position. Edgar Lomax Co. VA’s holdings in Southern Company (The) were worth $23,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Formidable Asset Management LLC bought a new position in shares of Southern Company (The) during the first quarter valued at $207,000. Global X Management Co. LLC raised its stake in Southern Company (The) by 17.2% in the first quarter. Global X Management Co. LLC now owns 176,303 shares of the utilities provider’s stock valued at $8,776,000 after buying an additional 25,838 shares during the last quarter. Banque Pictet & Cie SA raised its stake in Southern Company (The) by 23.6% in the first quarter. Banque Pictet & Cie SA now owns 52,292 shares of the utilities provider’s stock valued at $2,603,000 after buying an additional 10,000 shares during the last quarter. Cleararc Capital Inc. raised its stake in Southern Company (The) by 1.8% in the first quarter. Cleararc Capital Inc. now owns 24,229 shares of the utilities provider’s stock valued at $1,206,000 after buying an additional 432 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake in Southern Company (The) by 20.1% in the first quarter. CWA Asset Management Group LLC now owns 65,509 shares of the utilities provider’s stock valued at $3,261,000 after buying an additional 10,950 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Southern Company (NYSE:SO) traded up 0.60% during mid-day trading on Friday, hitting $48.31. The stock had a trading volume of 3,792,612 shares. The company has a 50 day moving average price of $48.03 and a 200-day moving average price of $49.44. Southern Company has a one year low of $46.20 and a one year high of $53.73. The company has a market cap of $48.28 billion, a price-to-earnings ratio of 79.46 and a beta of 0.12.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. Equities analysts expect that Southern Company will post $2.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.80%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio is 346.27%.

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Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. BidaskClub raised shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Morgan Stanley set a $50.00 price target on shares of Southern Company (The) and gave the company a “sell” rating in a research report on Thursday, August 10th. J P Morgan Chase & Co assumed coverage on shares of Southern Company (The) in a research report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price target on the stock. Finally, Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Southern Company (The) currently has an average rating of “Hold” and a consensus price target of $48.79.

In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the sale, the executive vice president now directly owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at $379,164.32. The disclosure for this sale can be found here. Insiders sold 152,084 shares of company stock valued at $7,665,158 over the last three months. Insiders own 1.00% of the company’s stock.

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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