SJW Corp. (NYSE:SJW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage currently has a $56.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 2.40% from the company’s current price.
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. “
SJW Corp. (NYSE:SJW) traded up 2.49% during midday trading on Wednesday, hitting $54.69. The stock had a trading volume of 58,203 shares. The company’s 50 day moving average is $47.90 and its 200 day moving average is $41.62. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 20.34 and a beta of 0.21. SJW Corp. has a 1-year low of $27.60 and a 1-year high of $55.86.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a dividend of $0.2025 per share. This represents a $0.81 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, November 3rd. SJW Corp.’s payout ratio is currently 30.11%.
In related news, VP Palle Jensen sold 5,000 shares of SJW Corp. stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $42.08, for a total transaction of $210,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SJW. Cornerstone Capital Management Holdings LLC. boosted its position in SJW Corp. by 164.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 53,074 shares of the company’s stock worth $2,318,000 after buying an additional 33,000 shares during the last quarter. Horizon Investment Services LLC acquired a new position in SJW Corp. during the third quarter worth approximately $819,000. The Manufacturers Life Insurance Company acquired a new position in SJW Corp. during the third quarter worth approximately $494,000. Lazard Asset Management LLC boosted its position in SJW Corp. by 47.3% in the third quarter. Lazard Asset Management LLC now owns 386,596 shares of the company’s stock worth $16,886,000 after buying an additional 124,216 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in SJW Corp. by 45.7% in the third quarter. ProShare Advisors LLC now owns 73,704 shares of the company’s stock worth $3,219,000 after buying an additional 23,113 shares during the last quarter. Institutional investors and hedge funds own 46.96% of the company’s stock.
SJW Corp. Company Profile
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.