Vest Financial LLC increased its holdings in shares of The Southern Company (NYSE:SO - Free Report) by 42.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,470 shares of the utilities provider's stock after purchasing an additional 4,625 shares during the quarter. Vest Financial LLC's holdings in Southern were worth $1,273,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stanley Laman Group Ltd. boosted its position in shares of Southern by 3.8% during the third quarter. Stanley Laman Group Ltd. now owns 3,246 shares of the utilities provider's stock worth $293,000 after buying an additional 119 shares during the period. Abel Hall LLC grew its position in Southern by 1.8% in the 3rd quarter. Abel Hall LLC now owns 6,830 shares of the utilities provider's stock valued at $616,000 after acquiring an additional 120 shares in the last quarter. DT Investment Partners LLC increased its stake in Southern by 5.8% during the third quarter. DT Investment Partners LLC now owns 2,201 shares of the utilities provider's stock worth $198,000 after purchasing an additional 121 shares during the period. Birchcreek Wealth Management LLC boosted its stake in shares of Southern by 4.5% in the third quarter. Birchcreek Wealth Management LLC now owns 2,836 shares of the utilities provider's stock valued at $256,000 after purchasing an additional 121 shares during the period. Finally, Truvestments Capital LLC grew its holdings in shares of Southern by 4.3% in the third quarter. Truvestments Capital LLC now owns 3,011 shares of the utilities provider's stock valued at $272,000 after purchasing an additional 123 shares in the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Martin Bernard Davis sold 1,170 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $85.90, for a total transaction of $100,503.00. Following the completion of the transaction, the executive vice president now directly owns 88,393 shares of the company's stock, valued at approximately $7,592,958.70. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.
Southern stock opened at $84.53 on Friday. The stock has a market capitalization of $92.62 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.86 and a beta of 0.53. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The stock has a 50 day moving average of $83.37 and a two-hundred day moving average of $86.65. The Southern Company has a twelve month low of $65.80 and a twelve month high of $94.45.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.88 dividend on an annualized basis and a yield of 3.41%. Southern's dividend payout ratio (DPR) is 66.98%.
A number of analysts have recently weighed in on SO shares. BMO Capital Markets cut their price objective on Southern from $99.00 to $97.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Scotiabank increased their price target on Southern from $96.00 to $98.00 and gave the company a "sector outperform" rating in a research report on Thursday, December 12th. Morgan Stanley lowered their price objective on Southern from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Friday, November 22nd. Guggenheim downgraded shares of Southern from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Finally, Mizuho increased their price objective on shares of Southern from $83.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Southern has an average rating of "Hold" and an average price target of $89.79.
Read Our Latest Stock Analysis on Southern
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.
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