Great Lakes Advisors LLC Purchases 16,331 Shares of Southern Company (The) (SO)

Great Lakes Advisors LLC increased its position in Southern Company (The) (NYSE:SO) by 156.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,789 shares of the utilities provider’s stock after purchasing an additional 16,331 shares during the period. Great Lakes Advisors LLC’s holdings in Southern Company (The) were worth $1,283,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in Southern Company (The) in the second quarter worth $100,000. Symmetry Partners LLC purchased a new stake in shares of Southern Company (The) in the first quarter worth $103,000. Stuart Chaussee & Associates Inc. grew its stake in shares of Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 1,740 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Southern Company (The) by 15.3% in the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 302 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its stake in shares of Southern Company (The) by 115.7% in the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 1,260 shares during the last quarter. 53.27% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $56.00 target price (up from $55.00) on shares of Southern Company (The) in a research note on Tuesday, September 12th. Morgan Stanley cut their target price on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a research note on Friday, June 23rd. Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. BidaskClub cut Southern Company (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, Credit Suisse Group raised Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $49.44.

Southern Company (NYSE SO) opened at 50.74 on Friday. The company has a market capitalization of $50.71 billion, a P/E ratio of 83.45 and a beta of 0.13. The stock’s 50 day moving average price is $49.31 and its 200-day moving average price is $49.35. Southern Company has a one year low of $46.20 and a one year high of $52.23.

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

In related news, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 85,298 shares in the company, valued at $4,204,338.42. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: This story was first reported by Stock Observer and is the property of of Stock Observer. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.thestockobserver.com/2017/10/13/great-lakes-advisors-llc-purchases-16331-shares-of-southern-company-the-so.html.

Southern Company (The) Company Profile

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.

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO).

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

Receive News & Ratings for Southern Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply