Vanguard Group Inc. raised its stake in shares of SJW Corporation (NYSE:SJW) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 925,004 shares of the utilities provider’s stock after purchasing an additional 14,115 shares during the period. Vanguard Group Inc. owned 4.51% of SJW Corporation worth $45,491,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of SJW. Cutler Group LP increased its position in SJW Corporation by 136.9% during the second quarter. Cutler Group LP now owns 2,395 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 8,891 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in SJW Corporation by 352.5% during the second quarter. BNP Paribas Arbitrage SA now owns 2,647 shares of the utilities provider’s stock worth $130,000 after buying an additional 2,062 shares during the period. Meeder Asset Management Inc. grew its stake in SJW Corporation by 1,521.7% during the second quarter. Meeder Asset Management Inc. now owns 2,984 shares of the utilities provider’s stock worth $146,000 after buying an additional 2,800 shares during the period. Victory Capital Management Inc. grew its stake in SJW Corporation by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,211 shares of the utilities provider’s stock worth $158,000 after buying an additional 482 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in SJW Corporation during the second quarter worth approximately $179,000. 45.40% of the stock is owned by hedge funds and other institutional investors.
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Shares of SJW Corporation (SJW) opened at $61.69 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $1,265.93, a PE ratio of 24.98 and a beta of 0.12.
SJW Corporation (NYSE:SJW) last released its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.15. SJW Corporation had a net margin of 14.83% and a return on equity of 11.81%. The company had revenue of $124.58 million during the quarter, compared to the consensus estimate of $107.00 million. analysts expect that SJW Corporation will post 2.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be paid a dividend of $0.218 per share. This is an increase from SJW Corporation’s previous quarterly dividend of $0.19. This represents a $0.87 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, November 3rd. SJW Corporation’s payout ratio is currently 32.34%.
In other news, insider Palle Jensen sold 3,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $55.14, for a total value of $165,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.10% of the stock is owned by insiders.
Several equities research analysts have issued reports on SJW shares. Janney Montgomery Scott upgraded shares of SJW Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of SJW Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded shares of SJW Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.
SJW Corporation Profile
SJW Group, formerly SJW Corp., is a holding company. The Company’s subsidiaries include San Jose Water Company, SJWTX, Inc, SJW Land Company and Texas Water Alliance Limited (TWA). SJWTX, Inc is doing business as Canyon Lake Water Service Company (CLWSC). It operates through the segments, which include Water Utility Services, Real Estate Services and All Other.
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