Retirement Systems of Alabama Has $29,815,000 Stake in Southern Co. (SO)
Retirement Systems of Alabama increased its stake in shares of Southern Co. (NYSE:SO) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 581,182 shares of the company’s stock after buying an additional 19,136 shares during the period. Retirement Systems of Alabama’s holdings in Southern were worth $29,815,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Acropolis Investment Management LLC acquired a new position in Southern during the third quarter valued at approximately $101,000. CWM LLC raised its stake in shares of Southern by 229.9% in the third quarter. CWM LLC now owns 2,039 shares of the company’s stock valued at $105,000 after buying an additional 1,421 shares during the period. Krilogy Financial LLC raised its stake in shares of Southern by 87.8% in the second quarter. Krilogy Financial LLC now owns 2,066 shares of the company’s stock valued at $111,000 after buying an additional 966 shares during the period. Ledyard National Bank raised its stake in shares of Southern by 112.3% in the third quarter. Ledyard National Bank now owns 2,410 shares of the company’s stock valued at $124,000 after buying an additional 1,275 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in shares of Southern by 447.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,471 shares of the company’s stock valued at $133,000 after buying an additional 2,020 shares during the period. Institutional investors own 50.49% of the company’s stock.
Southern Co. (NYSE:SO) traded down 1.211% on Wednesday, reaching $47.725. The company’s stock had a trading volume of 1,159,182 shares. The company has a market capitalization of $46.77 billion, a PE ratio of 17.922 and a beta of 0.07. The firm has a 50-day moving average of $49.57 and a 200-day moving average of $51.19. Southern Co. has a one year low of $43.72 and a one year high of $54.64.
Southern (NYSE:SO) last issued its quarterly earnings data on Monday, October 31st. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.11. The firm earned $6.26 billion during the quarter, compared to analyst estimates of $3.41 billion. Southern had a return on equity of 12.69% and a net margin of 14.14%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. Analysts predict that Southern Co. will post $2.90 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be given a $0.56 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.24 annualized dividend and a yield of 4.64%. Southern’s dividend payout ratio is currently 83.27%.
SO has been the subject of several research analyst reports. SunTrust Banks Inc. lifted their price target on Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, September 26th. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, September 27th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.50.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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