The Southern Company (NYSE:SO) Shares Bought by JB Capital LLC

02 Apr 2024, 13:18 by Amy Steele · The Cerbat Gem

JB Capital LLC boosted its position in shares of The Southern Company (NYSE:SO – Free Report) by 9.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,415 shares of the utilities provider’s stock after acquiring an additional 462 shares during the period. JB Capital LLC’s holdings in Southern were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Southern during the 2nd quarter worth approximately $27,000. Intrepid Capital Management Inc. purchased a new stake in shares of Southern during the 2nd quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new stake in shares of Southern during the 4th quarter worth approximately $34,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Southern during the 4th quarter worth approximately $34,000. Finally, VitalStone Financial LLC purchased a new stake in Southern in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SO. BMO Capital Markets restated an “outperform” rating and set a $76.00 price objective (up previously from $72.00) on shares of Southern in a research report on Monday. Barclays cut their price objective on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Citigroup initiated coverage on shares of Southern in a research report on Friday, December 8th. They set a “buy” rating and a $82.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.00.

Get Our Latest Analysis on SO

Southern Trading Up 1.1 %

Shares of SO stock traded up $0.80 during trading hours on Tuesday, hitting $71.90. 567,129 shares of the company were exchanged, compared to its average volume of 4,516,222. The firm has a market cap of $78.44 billion, a PE ratio of 19.59, a PEG ratio of 4.48 and a beta of 0.49. The Southern Company has a 1 year low of $61.56 and a 1 year high of $75.80. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The firm has a fifty day moving average of $68.54 and a 200 day moving average of $68.89.

Southern (NYSE:SO – Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company’s revenue was down 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Analysts expect that The Southern Company will post 4 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a $0.70 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 3.89%. Southern’s payout ratio is 77.14%.

Insider Buying and Selling at Southern

In other Southern news, EVP Christopher Cummiskey sold 899 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the sale, the executive vice president now owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the sale, the executive vice president now owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the sale, the chief executive officer now directly owns 101,284 shares of the company’s stock, valued at approximately $7,291,435.16. The disclosure for this sale can be found here. Insiders sold 25,998 shares of company stock valued at $1,806,063 over the last 90 days. 0.37% of the stock is owned by corporate insiders.

About Southern

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