Kaydan Wealth Management Inc. Acquires New Holdings in The Southern Company (NYSE:SO)

Kaydan Wealth Management Inc. acquired a new position in The Southern Company (NYSE:SO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,155 shares of the utilities provider’s stock, valued at approximately $285,000.

Other institutional investors also recently modified their holdings of the company. Vista Capital Partners Inc. boosted its holdings in Southern by 1.4% in the second quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock worth $678,000 after acquiring an additional 118 shares in the last quarter. Modera Wealth Management LLC lifted its stake in Southern by 1.4% in the second quarter. Modera Wealth Management LLC now owns 9,048 shares of the utilities provider’s stock valued at $702,000 after purchasing an additional 124 shares during the last quarter. Red Door Wealth Management LLC grew its stake in shares of Southern by 0.9% during the 2nd quarter. Red Door Wealth Management LLC now owns 13,926 shares of the utilities provider’s stock worth $1,080,000 after acquiring an additional 125 shares during the period. Elwood & Goetz Wealth Advisory Group LLC boosted its position in Southern by 2.1% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,352 shares of the utilities provider’s stock worth $493,000 after purchasing an additional 128 shares during the period. Finally, Moloney Securities Asset Management LLC grew its stake in Southern by 2.0% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,595 shares of the utilities provider’s stock valued at $512,000 after buying an additional 131 shares in the last quarter. 64.10% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the transaction, the chief executive officer now owns 145,088 shares in the company, valued at $13,005,688.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the sale, the executive vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the transaction, the chief executive officer now owns 145,088 shares in the company, valued at $13,005,688.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,945 shares of company stock valued at $3,488,826. Insiders own 0.18% of the company’s stock.

Southern Trading Up 1.7 %

Shares of SO stock opened at $92.27 on Thursday. The business has a 50-day moving average of $88.56 and a 200 day moving average of $81.41. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The Southern Company has a 1-year low of $64.53 and a 1-year high of $92.46. The stock has a market capitalization of $100.89 billion, a PE ratio of 23.84, a P/E/G ratio of 3.16 and a beta of 0.52.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Southern had a return on equity of 12.88% and a net margin of 17.67%. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Southern Company will post 4.02 earnings per share for the current year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio (DPR) is 74.42%.

Analyst Ratings Changes

SO has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their target price on Southern from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley upped their price objective on shares of Southern from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wolfe Research lowered shares of Southern from an “outperform” rating to a “peer perform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Southern from $83.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Guggenheim lifted their price objective on shares of Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.07.

Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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.