Todays Report: The State Board of Administration of Florida Retirement System sells partial stakes of SJW Corp. (SJW)

The State Board of Administration of Florida Retirement System sells partial stakes of SJW Corp. (SJW)

State Board of Administration of Florida Retirement System reduced its stake in SJW Corp. (NYSE:SJW) by 28.8% during the second quarter, Holdings Channel reports. The institutional investor owned 14,291 shares of the company’s stock after selling 5,773 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.07% of SJW Corp. worth $563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. AXA raised its position in SJW Corp. by 1,884.0% in the first quarter. AXA now owns 45,632 shares of the company’s stock worth $1,659,000 after buying an additional 43,332 shares during the period. BlackRock Inc. raised its position in SJW Corp. by 817.8% in the first quarter. BlackRock Inc. now owns 4,837 shares of the company’s stock worth $176,000 after buying an additional 4,310 shares during the period. Eqis Capital Management Inc. raised its position in SJW Corp. by 14.4% in the second quarter. Eqis Capital Management Inc. now owns 7,749 shares of the company’s stock worth $305,000 after buying an additional 978 shares during the period. Emerald Acquisition Ltd. bought a new position in SJW Corp. during the second quarter worth $1,777,000. Finally, Zebra Capital Management LLC bought a new position in SJW Corp. during the first quarter worth $951,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

SJW Corp. (NYSE:SJW) traded up 0.92% on Wednesday, reaching $42.58. The company had a trading volume of 32,610 shares. The stock’s 50-day moving average is $43.15 and its 200-day moving average is $38.57. SJW Corp. has a 52 week low of $27.60 and a 52 week high of $46.73. The company has a market capitalization of $870.42 million, a P/E ratio of 19.02 and a beta of 0.34.

SJW Corp. (NYSE:SJW) last announced its earnings results on Wednesday, July 27th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.41. SJW Corp. had a return on equity of 11.12% and a net margin of 14.40%. Equities research analysts forecast that SJW Corp. will post $1.80 EPS for the current fiscal year.

Separately, Zacks Investment Research raised SJW Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd.

In other SJW Corp. news, VP Palle Jensen sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $41.15, for a total transaction of $123,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.50% of the company’s stock.

About SJW Corp.

SJW Corp. is a holding company. The Company has approximately five subsidiaries: San Jose Water Company, SJWTX, Inc, SJW Land Company, Texas Water Alliance Limited (TWA) and SJW Group, Inc SJWTX, Inc is doing business as Canyon Lake Water Service Company (CLWSC). The Company operates through two segments: Water Utility Services and Real Estate Services.

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