Glenview Trust Co Increases Stock Holdings in Southern Company (The) $SO

Glenview Trust Co lifted its position in shares of Southern Company (The) (NYSE:SO) by 21.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,090 shares of the utilities provider’s stock after buying an additional 24,807 shares during the period. Glenview Trust Co’s holdings in Southern were worth $13,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SO. Donaldson Capital Management LLC grew its stake in Southern by 2,785.8% during the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after purchasing an additional 543,517 shares in the last quarter. Matrix Trust Co purchased a new position in shares of Southern in the 3rd quarter valued at about $1,813,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Southern in the 3rd quarter valued at about $4,852,000. Alpha Cubed Investments LLC grew its position in shares of Southern by 23.6% during the second quarter. Alpha Cubed Investments LLC now owns 7,145 shares of the utilities provider’s stock worth $656,000 after buying an additional 1,366 shares in the last quarter. Finally, Shelton Capital Management increased its stake in shares of Southern by 700.6% during the second quarter. Shelton Capital Management now owns 161,618 shares of the utilities provider’s stock worth $14,841,000 after buying an additional 141,430 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $94.93 on Tuesday. The stock has a market capitalization of $104.53 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.87 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. Southern Company has a 1 year low of $83.09 and a 1 year high of $100.83. The company’s fifty day moving average is $88.09 and its two-hundred day moving average is $91.33.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s payout ratio is presently 73.27%.

Analysts Set New Price Targets

SO has been the topic of a number of research reports. Mizuho dropped their price target on Southern from $97.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. Morgan Stanley restated an “underweight” rating and set a $85.00 target price on shares of Southern in a research report on Wednesday, January 21st. The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a report on Thursday, November 6th. KeyCorp decreased their price target on shares of Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.91.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.