SJW Corporation (NYSE:SJW) Position Increased by Meeder Asset Management Inc.
Meeder Asset Management Inc. increased its stake in SJW Corporation (NYSE:SJW) by 1,521.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,984 shares of the utilities provider’s stock after buying an additional 2,800 shares during the period. Meeder Asset Management Inc.’s holdings in SJW Corporation were worth $146,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cutler Group LP boosted its position in shares of SJW Corporation by 136.9% in the second quarter. Cutler Group LP now owns 2,395 shares of the utilities provider’s stock valued at $117,000 after buying an additional 8,891 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of SJW Corporation by 5.6% in the first quarter. Victory Capital Management Inc. now owns 2,729 shares of the utilities provider’s stock valued at $132,000 after buying an additional 145 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of SJW Corporation during the first quarter valued at approximately $223,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of SJW Corporation during the first quarter valued at approximately $264,000. Finally, Wedge Capital Management L L P NC bought a new position in shares of SJW Corporation during the first quarter valued at approximately $278,000. 48.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of SJW Corporation (SJW) traded up 0.58% during trading on Friday, hitting $53.82. 49,873 shares of the stock traded hands. The company has a market cap of $1.10 billion, a PE ratio of 20.16 and a beta of 0.18. SJW Corporation has a one year low of $41.03 and a one year high of $56.93. The firm has a 50 day moving average price of $51.89 and a 200-day moving average price of $49.75.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be given a $0.2175 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.87 dividend on an annualized basis and a yield of 1.62%. SJW Corporation’s dividend payout ratio (DPR) is presently 32.58%.
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Several equities analysts have recently commented on the stock. BidaskClub cut shares of SJW Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of SJW Corporation from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, August 2nd. Finally, Janney Montgomery Scott raised shares of SJW Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, July 28th.
In other SJW Corporation news, insider Palle Jensen sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $55.14, for a total value of $165,420.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.10% of the stock is owned by insiders.
About SJW Corporation
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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