Mechanics Bank Trust Department lowered its position in Southern Company (The) (NYSE:SO) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,285 shares of the utilities provider’s stock after selling 300 shares during the period. Mechanics Bank Trust Department’s holdings in Southern Company (The) were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Southern Company (The) 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. BlackRock Inc. boosted its stake in Southern Company (The) 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 buying an additional 60,040,696 shares during the period. State Street Corp boosted its stake in Southern Company (The) by 1.1% in the first quarter. State Street Corp now owns 48,900,251 shares of the utilities provider’s stock valued at $2,434,244,000 after buying an additional 515,397 shares during the period. Bank of New York Mellon Corp boosted its stake in Southern Company (The) by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 11,463,868 shares of the utilities provider’s stock valued at $570,670,000 after buying an additional 62,620 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Southern Company (The) by 8.2% in the first quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock valued at $475,877,000 after buying an additional 724,650 shares during the period. 53.26% of the stock is owned by hedge funds and other institutional investors.

Southern Company (SO) traded down 0.35% during midday trading on Monday, hitting $48.14. 998,320 shares of the stock traded hands. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.73. The company’s 50-day moving average is $48.03 and its 200 day moving average is $49.44. The firm has a market cap of $48.11 billion, a P/E ratio of 79.18 and a beta of 0.12.

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

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

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SO has been the subject of several research reports. Barclays PLC reissued a “buy” rating and issued a $54.00 price objective on shares of Southern Company (The) in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price objective (down from $56.00) on shares of Southern Company (The) in a research report on Thursday, May 4th. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $52.00 in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating and issued a $53.00 price objective on shares of Southern Company (The) in a research report on Monday, July 31st. Finally, BidaskClub raised shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The company 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 company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the transaction, the executive vice president now owns 85,298 shares in the company, valued at approximately $4,204,338.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the company’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 value of $256,400.00. Following the completion of the transaction, the insider now owns 7,394 shares of the company’s stock, valued at approximately $379,164.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,084 shares of company stock valued at $7,665,158. 0.74% of the stock is owned by company 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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