Southern Company (The) $SO Shares Bought by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. raised its position in Southern Company (The) (NYSE:SO) by 69.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,540 shares of the utilities provider’s stock after purchasing an additional 104,570 shares during the period. Southern accounts for 0.7% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 27th largest holding. Lockheed Martin Investment Management Co.’s holdings in Southern were worth $22,196,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC grew its position in Southern by 2.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 108 shares during the last quarter. Samalin Investment Counsel LLC grew its position in Southern by 4.3% during the 3rd quarter. Samalin Investment Counsel LLC now owns 2,691 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 111 shares during the last quarter. Gentry Private Wealth LLC lifted its stake in shares of Southern by 2.3% in the 3rd quarter. Gentry Private Wealth LLC now owns 4,991 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 114 shares during the period. Cassaday & Co Wealth Management LLC lifted its stake in shares of Southern by 0.9% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 12,534 shares of the utilities provider’s stock worth $1,188,000 after acquiring an additional 116 shares during the period. Finally, Jacobi Capital Management LLC lifted its stake in shares of Southern by 0.4% in the 3rd quarter. Jacobi Capital Management LLC now owns 28,741 shares of the utilities provider’s stock worth $2,724,000 after acquiring an additional 121 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup restated a “buy” rating on shares of Southern in a research note on Friday, April 10th. BMO Capital Markets restated an “outperform” rating on shares of Southern in a research note on Friday, February 20th. Raymond James Financial restated an “outperform” rating and issued a $104.00 target price on shares of Southern in a research note on Friday, May 1st. Truist Financial assumed coverage on shares of Southern in a research note on Tuesday, April 21st. They issued a “hold” rating and a $103.00 target price for the company. Finally, Barclays raised their target price on shares of Southern from $88.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Southern has an average rating of “Hold” and an average price target of $99.85.

Insider Buying and Selling at Southern

In related news, EVP Christopher Cummiskey sold 6,669 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares of the company’s stock, valued at $2,973,740. This represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kimberly S. Greene sold 25,000 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the sale, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

Southern Stock Performance

NYSE:SO opened at $92.56 on Friday. The firm has a 50 day simple moving average of $95.34 and a 200-day simple moving average of $91.80. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a market cap of $104.35 billion, a PE ratio of 23.55, a P/E/G ratio of 2.83 and a beta of 0.36. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. This is a boost from Southern’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. Southern’s payout ratio is currently 75.32%.

Southern Company Profile

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.