Resources Management Corp CT ADV Has $911,000 Holdings in The Southern Company (NYSE:SO)

Resources Management Corp CT ADV cut its holdings in The Southern Company (NYSE:SO) by 1.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,745 shares of the utilities provider’s stock after selling 115 shares during the period. Resources Management Corp CT ADV’s holdings in Southern were worth $911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Southern by 0.5% in the first quarter. Vanguard Group Inc. now owns 100,089,634 shares of the utilities provider’s stock valued at $7,180,430,000 after purchasing an additional 481,071 shares during the last quarter. Capital International Investors raised its holdings in shares of Southern by 45.9% in the first quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock valued at $1,721,382,000 after purchasing an additional 7,550,570 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Southern by 36.0% in the fourth quarter. Wellington Management Group LLP now owns 3,529,052 shares of the utilities provider’s stock valued at $247,457,000 after purchasing an additional 934,447 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Southern by 21.3% in the second quarter. Raymond James & Associates now owns 2,572,230 shares of the utilities provider’s stock valued at $199,528,000 after purchasing an additional 452,075 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Southern by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 2,542,113 shares of the utilities provider’s stock worth $197,192,000 after buying an additional 51,751 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Sloane N. Drake sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total transaction of $931,320.00. Following the completion of the sale, the executive vice president now owns 16,771 shares of the company’s stock, valued at $1,301,597.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Southern news, CEO Anthony L. Wilson sold 6,900 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $77.61, for a total transaction of $535,509.00. Following the completion of the transaction, the chief executive officer now owns 85,309 shares of the company’s stock, valued at $6,620,831.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sloane N. Drake sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $77.61, for a total value of $931,320.00. Following the transaction, the executive vice president now directly owns 16,771 shares of the company’s stock, valued at approximately $1,301,597.31. The disclosure for this sale can be found here. Insiders sold 27,845 shares of company stock valued at $2,266,455 over the last quarter. 0.18% of the stock is owned by company insiders.

Southern Trading Up 0.9 %

Shares of Southern stock opened at $90.52 on Tuesday. The firm has a 50-day moving average of $86.41 and a 200-day moving average of $79.10. The stock has a market cap of $98.98 billion, a PE ratio of 23.39, a PEG ratio of 3.22 and a beta of 0.52. The Southern Company has a 52-week low of $61.56 and a 52-week high of $90.59. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91.

Southern (NYSE:SO) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. Southern’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 earnings per share. As a group, sell-side analysts forecast that The Southern Company will post 4.01 EPS for the current year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 19th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.88 annualized dividend and a yield of 3.18%. Southern’s dividend payout ratio is 74.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Southern from $83.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Scotiabank boosted their target price on shares of Southern from $87.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Bank of America boosted their target price on shares of Southern from $86.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on shares of Southern from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Southern currently has an average rating of “Hold” and a consensus price target of $86.33.

Southern Company Profile

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.