Rep. Marjorie Taylor Greene Purchases Shares of The Southern Company (NYSE:SO)

Posted by Defense World Staff on Nov 12th, 2024

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of The Southern Company (NYSE:SO). In a filing disclosed on November 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Southern stock on November 7th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 11/7/2024.
Purchased $1,001 – $15,000 in shares of Palo Alto Networks (NASDAQ:PANW) on 11/7/2024.

Southern Stock Down 0.3 %

Shares of Southern stock opened at $88.34 on Tuesday. The company has a 50-day simple moving average of $89.93 and a two-hundred day simple moving average of $83.89. The Southern Company has a 52-week low of $65.80 and a 52-week high of $94.45. The stock has a market capitalization of $96.79 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91.

Southern (NYSE:SO – Get Free Report) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 earnings per share. On average, analysts anticipate that The Southern Company will post 4.04 EPS for the current fiscal year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $0.72 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a yield of 3.26%. Southern’s dividend payout ratio (DPR) is presently 66.98%.

Analyst Ratings Changes

SO has been the topic of several research analyst reports. Bank of America boosted their target price on shares of Southern from $86.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. The Goldman Sachs Group boosted their price objective on shares of Southern from $83.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wolfe Research cut shares of Southern from an “outperform” rating to a “peer perform” rating in a report on Friday, August 2nd. UBS Group upped their price target on shares of Southern from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Barclays increased their target price on shares of Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Southern has an average rating of “Hold” and a consensus target price of $89.27.

View Our Latest Stock Report on Southern

Institutional Investors Weigh In On Southern

A number of institutional investors have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC lifted its holdings in Southern by 17,272.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 14,647,000 shares of the utilities provider’s stock valued at $1,320,866,000 after purchasing an additional 14,562,689 shares in the last quarter. Capital International Investors boosted its holdings in Southern by 45.9% in the first quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock valued at $1,721,382,000 after purchasing an additional 7,550,570 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Southern by 8,741.6% in the third quarter. International Assets Investment Management LLC now owns 1,502,813 shares of the utilities provider’s stock valued at $135,524,000 after purchasing an additional 1,485,816 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Southern by 2,719.7% in the second quarter. 1832 Asset Management L.P. now owns 872,373 shares of the utilities provider’s stock valued at $67,670,000 after purchasing an additional 841,435 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its holdings in Southern by 7,657.0% in the second quarter. Wulff Hansen & CO. now owns 571,148 shares of the utilities provider’s stock valued at $44,304,000 after purchasing an additional 563,785 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insider Buying and Selling at Southern

In related news, EVP Bryan D. Anderson sold 6,565 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the transaction, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Bryan D. Anderson sold 6,565 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $89.64, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

About Southern

(Get Free Report)

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.