KBC Group NV Lowers Position in SJW Corporation (SJW)
KBC Group NV reduced its stake in shares of SJW Corporation (NYSE:SJW) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,231 shares of the utilities provider’s stock after selling 6,309 shares during the period. KBC Group NV owned about 0.50% of SJW Corporation worth $5,077,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Capital Fund Management S.A. purchased a new stake in SJW Corporation during the first quarter valued at $318,000. American Century Companies Inc. bought a new stake in SJW Corporation during the first quarter valued at approximately $1,073,000. First Trust Advisors LP increased its stake in SJW Corporation by 17.6% in the first quarter. First Trust Advisors LP now owns 121,810 shares of the utilities provider’s stock valued at $5,874,000 after buying an additional 18,243 shares in the last quarter. Eqis Capital Management Inc. increased its stake in SJW Corporation by 8.3% in the first quarter. Eqis Capital Management Inc. now owns 8,094 shares of the utilities provider’s stock valued at $390,000 after buying an additional 617 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in SJW Corporation during the first quarter valued at approximately $278,000. 48.29% of the stock is owned by institutional investors and hedge funds.
Shares of SJW Corporation (SJW) opened at 54.13 on Thursday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 20.28 and a beta of 0.18. SJW Corporation has a 1-year low of $40.85 and a 1-year high of $56.93. The firm’s 50-day moving average price is $52.20 and its 200 day moving average price is $49.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a dividend of $0.2175 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.87 annualized dividend and a yield of 1.61%. SJW Corporation’s dividend payout ratio is 32.58%.
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Several analysts have commented on the company. BidaskClub raised SJW Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised SJW Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Janney Montgomery Scott raised SJW Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, July 28th.
In other SJW Corporation news, insider Palle Jensen sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $55.14, for a total transaction of $165,420.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.10% of the stock is currently owned by corporate 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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