Southern Co EVP & CIO sells shares totaling $100,811

Martin Bernard Davis, Executive Vice President and Chief Information Officer of Southern Co (NYSE:SO), recently sold 1,125 shares of the company’s common stock. The shares were sold at an average price of $89.61 each, amounting to a total transaction value of $100,811. The utility giant, currently valued at over $100 billion, has shown strong momentum with its stock trading near its 52-week high of $94.45. According to InvestingPro analysis, the company appears slightly overvalued at current levels. Following this sale, Davis holds 102,090 shares directly. This transaction was conducted under a pre-arranged trading plan. The company maintains a solid dividend track record, having raised dividends for 23 consecutive years, with a current yield of 3.17%. For deeper insights into insider trading patterns and access to 12 additional InvestingPro Tips, including exclusive financial health metrics, consider exploring Southern Co’s comprehensive Pro Research Report.

In other recent news, Southern Company reported its fourth-quarter 2024 earnings, which missed analyst expectations for earnings per share (EPS) but slightly exceeded revenue estimates. The utility company posted an adjusted EPS of $0.50, falling short of the anticipated $0.53, while revenue reached $6.34 billion, surpassing the expected $6.31 billion. For the full year, Southern Co’s revenue rose to $26.7 billion, marking a 5.8% increase from the previous year. In another development, Southern Company announced the issuance of $1.8 billion in junior subordinated notes, a move that may support infrastructure investment and debt repayment. Additionally, Mizuho (NYSE:MFG) Securities raised its price target for Southern Co. from $85 to $90, maintaining a Neutral rating, following the company’s announcement of a significant capital investment plan. This plan, set at $62.8 billion for 2025 to 2029, represents a 30% increase from the prior plan and suggests potential growth in the company’s rate base and earnings. Furthermore, Southern Company elected James O. Etheredge as an independent director to its Board, bringing extensive experience from his tenure at Accenture (NYSE:ACN). These recent developments highlight Southern Company’s strategic initiatives and financial performance.

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