Zacks Investment Research lowered shares of SJW Corporation (NYSE:SJW) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “SJW CORP. is a holding company which operates through its wholly-owned subsidiaries, San Jose Water Co., SJW Land Co., and Western Precision, Inc. San Jose Water Co., is a public utility in the business of providing water service to a population of approximately 928,000 people. Their service area encompasses about 134 sq. miles in the metropolitan San Juan area. SJW Land Co. operates parking facilities located adjacent to the their headquarters and the San Jose area. “

Other equities analysts have also recently issued reports about the company. BidaskClub cut SJW Corporation from a hold rating to a sell rating in a research report on Monday, July 31st. Janney Montgomery Scott upgraded SJW Corporation from a neutral rating to a buy rating in a report on Friday, July 28th.

SJW Corporation (NYSE:SJW) opened at 56.60 on Thursday. The firm’s 50-day moving average is $55.28 and its 200-day moving average is $50.74. The firm has a market cap of $1.16 billion, a PE ratio of 22.02 and a beta of 0.15. SJW Corporation has a 12 month low of $42.01 and a 12 month high of $57.85.

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In related news, insider Palle Jensen sold 3,000 shares of the business’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SJW. WFG Advisors LP boosted its holdings in SJW Corporation by 16.6% during the second quarter. WFG Advisors LP now owns 11,384 shares of the utilities provider’s stock worth $560,000 after buying an additional 1,619 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in SJW Corporation by 14.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,296 shares of the utilities provider’s stock worth $260,000 after buying an additional 664 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of SJW Corporation by 268.3% in the second quarter. Public Employees Retirement System of Ohio now owns 12,823 shares of the utilities provider’s stock valued at $631,000 after buying an additional 9,341 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of SJW Corporation by 26.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,927 shares of the utilities provider’s stock valued at $341,000 after buying an additional 1,461 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of SJW Corporation by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 13,305 shares of the utilities provider’s stock valued at $655,000 after buying an additional 550 shares in the last quarter. 47.54% of the stock is owned by institutional investors and hedge funds.

SJW Corporation Company 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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