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Christopher C. Womack, the Chairman, President, and CEO of Southern Co (NYSE:SO), a utility giant with a market capitalization of $97.5 billion and a strong track record of 23 consecutive years of dividend increases according to InvestingPro, recently sold a portion of his holdings in the company. According to a recent SEC filing, Womack sold 1,593 shares of Southern Company common stock at a weighted average price of $90 per share. The total value of the transaction amounted to $143,370. Following this sale, Womack retains ownership of 112,127.7006 shares directly and an additional 2,499.5374 shares indirectly through a 401(k) plan. The transaction was executed on February 25, 2025, as part of a pre-arranged trading plan. The stock, which has delivered a 40% return over the past year and currently offers a 3.2% dividend yield, appears to be trading above its Fair Value based on comprehensive analysis available through InvestingPro’s detailed research reports.
In other recent news, Southern Company reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company’s adjusted earnings per share (EPS) came in at $0.50, missing the analyst estimate of $0.53 by $0.03. However, Southern Company slightly beat revenue estimates, reporting $6.34 billion compared to the consensus estimate of $6.31 billion, marking a 4.9% increase from the same quarter last year. For the full year 2024, the company reported earnings of $4.4 billion, or $4.02 per share, up from $4.0 billion, or $3.64 per share, in 2023.
Additionally, Mizuho (NYSE:MFG) Securities raised Southern Company’s stock price target to $90 from $85, maintaining a Neutral rating. This adjustment follows Southern Company’s announcement of a $62.8 billion capital investment plan for 2025 to 2029, a 30% increase over the previous plan. The plan is expected to drive a 7% rate base growth, with potential for further growth if additional opportunities are realized. Furthermore, Southern Company announced the election of James O. Etheredge as an independent director to its Board of Directors, effective April 1, 2025. Etheredge brings significant experience from his tenure at Accenture (NYSE:ACN) and involvement with the Federal Reserve Bank of Atlanta.
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