Teacher Retirement System of Texas Lowers Stock Holdings in The Southern Company (NYSE:SO)

Teacher Retirement System of Texas lowered its stake in shares of The Southern Company (NYSE:SOFree Report) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 332,683 shares of the utilities provider’s stock after selling 6,643 shares during the period. Teacher Retirement System of Texas’ holdings in Southern were worth $21,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SO. VisionPoint Advisory Group LLC purchased a new stake in Southern in the 2nd quarter valued at approximately $27,000. Intrepid Capital Management Inc. purchased a new stake in Southern in the 2nd quarter valued at approximately $30,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Southern in the 2nd quarter valued at approximately $34,000. VitalStone Financial LLC purchased a new stake in Southern in the 2nd quarter valued at approximately $35,000. Finally, RVW Wealth LLC purchased a new stake in Southern in the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Insider Transactions at Southern

In other news, insider David P. Poroch sold 10,000 shares of Southern stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $69.39, for a total transaction of $693,900.00. Following the completion of the sale, the insider now directly owns 28,691 shares in the company, valued at $1,990,868.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total transaction of $359,950.00. Following the completion of the sale, the chief executive officer now directly owns 101,284 shares in the company, valued at $7,291,435.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David P. Poroch sold 10,000 shares of Southern stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $69.39, for a total transaction of $693,900.00. Following the sale, the insider now owns 28,691 shares of the company’s stock, valued at $1,990,868.49. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $1,751,950 over the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SO has been the topic of a number of analyst reports. Barclays lowered their price objective on Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday. BMO Capital Markets raised Southern from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $72.00 to $77.00 in a report on Thursday, January 11th. JPMorgan Chase & Co. upped their price target on Southern from $69.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, November 29th. Mizuho dropped their price objective on Southern from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, November 21st. Finally, Morgan Stanley boosted their target price on Southern from $66.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Southern presently has an average rating of “Hold” and a consensus price target of $73.71.

Check Out Our Latest Research Report on Southern

Southern Stock Performance

Shares of SO opened at $69.62 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The stock has a market cap of $75.93 billion, a P/E ratio of 25.13, a PEG ratio of 4.39 and a beta of 0.53. The company has a 50-day moving average of $70.47 and a two-hundred day moving average of $69.24. The Southern Company has a 12-month low of $58.85 and a 12-month high of $75.80.

Southern (NYSE:SOGet Free Report) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. The company had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $8.38 billion. Southern had a net margin of 11.60% and a return on equity of 10.26%. As a group, research analysts predict that The Southern Company will post 3.6 EPS for the current fiscal year.

About Southern

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. 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.

See Also

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

Institutional Ownership by Quarter for Southern (NYSE:SO)

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