State Street Corp increased its position in SJW Corporation (NYSE:SJW) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,294 shares of the utilities provider’s stock after purchasing an additional 17,598 shares during the quarter. State Street Corp owned approximately 1.71% of SJW worth $17,283,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of SJW. Vanguard Group Inc. raised its stake in SJW by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 925,004 shares of the utilities provider’s stock worth $45,491,000 after acquiring an additional 14,115 shares during the last quarter. Dimensional Fund Advisors LP grew its position in SJW by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 696,570 shares of the utilities provider’s stock worth $33,588,000 after purchasing an additional 7,058 shares during the period. Renaissance Technologies LLC grew its position in shares of SJW by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 393,600 shares of the utilities provider’s stock valued at $19,357,000 after acquiring an additional 26,600 shares during the period. First Manhattan Co. grew its position in shares of SJW by 19.4% during the 2nd quarter. First Manhattan Co. now owns 302,690 shares of the utilities provider’s stock valued at $14,886,000 after acquiring an additional 49,150 shares during the period. Finally, Northern Trust Corp grew its position in shares of SJW by 0.7% during the 2nd quarter. Northern Trust Corp now owns 230,114 shares of the utilities provider’s stock valued at $11,317,000 after acquiring an additional 1,656 shares during the period. Institutional investors own 54.63% of the company’s stock.
Separately, Zacks Investment Research upgraded SJW from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, October 31st.
SJW Corporation (SJW) traded down $1.28 during trading hours on Tuesday, hitting $65.59. 57,161 shares of the company’s stock traded hands, compared to its average volume of 67,779. 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 firm has a market capitalization of $1,375.31, a P/E ratio of 27.13 and a beta of 0.17. SJW Corporation has a fifty-two week low of $45.39 and a fifty-two week high of $69.29.
SJW (NYSE:SJW) last announced its earnings results on Wednesday, October 25th. The utilities provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. The business had revenue of $124.58 million during the quarter, compared to analysts’ expectations of $107.00 million. SJW had a net margin of 14.83% and a return on equity of 11.81%. research analysts expect that SJW Corporation will post 2.48 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 28th. This represents a yield of 1.32%. SJW’s payout ratio is currently 32.34%.
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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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