Quantum Capital Management LLC NJ Boosts Stake in South Jersey Industries Inc (NYSE:SJI)

Quantum Capital Management LLC NJ increased its position in South Jersey Industries Inc (NYSE:SJI) by 14.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,509 shares of the utilities provider’s stock after purchasing an additional 1,467 shares during the period. South Jersey Industries accounts for about 0.1% of Quantum Capital Management LLC NJ’s holdings, making the stock its 27th biggest holding. Quantum Capital Management LLC NJ’s holdings in South Jersey Industries were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SJI. Invesco Ltd. lifted its holdings in shares of South Jersey Industries by 107.0% in the 2nd quarter. Invesco Ltd. now owns 2,498,685 shares of the utilities provider’s stock valued at $84,280,000 after purchasing an additional 1,291,495 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of South Jersey Industries by 7.9% in the 1st quarter. BlackRock Inc. now owns 13,772,758 shares of the utilities provider’s stock valued at $441,692,000 after purchasing an additional 1,007,120 shares during the last quarter. FMR LLC lifted its holdings in shares of South Jersey Industries by 28.4% in the 1st quarter. FMR LLC now owns 4,543,958 shares of the utilities provider’s stock valued at $145,724,000 after purchasing an additional 1,003,949 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of South Jersey Industries by 200.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,388,747 shares of the utilities provider’s stock valued at $44,537,000 after purchasing an additional 926,264 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of South Jersey Industries by 150.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,088,849 shares of the utilities provider’s stock valued at $36,727,000 after purchasing an additional 654,195 shares during the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.

SJI traded down $0.22 on Tuesday, hitting $32.20. 14,552 shares of the company traded hands, compared to its average volume of 449,741. The company has a 50 day moving average of $32.23 and a 200-day moving average of $32.27. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $2.99 billion, a PE ratio of 23.36, a PEG ratio of 4.53 and a beta of 0.70. South Jersey Industries Inc has a 12-month low of $26.06 and a 12-month high of $36.72.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.09). The company had revenue of $266.93 million for the quarter, compared to analysts’ expectations of $254.12 million. South Jersey Industries had a net margin of 7.97% and a return on equity of 7.10%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. On average, research analysts anticipate that South Jersey Industries Inc will post 1.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.287 per share. This represents a $1.15 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, September 9th. South Jersey Industries’s dividend payout ratio is presently 83.33%.

Several analysts have recently weighed in on SJI shares. Morgan Stanley set a $30.00 target price on South Jersey Industries and gave the company a “hold” rating in a report on Friday, August 16th. Maxim Group set a $40.00 target price on South Jersey Industries and gave the company a “buy” rating in a report on Friday. TheStreet downgraded South Jersey Industries from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Zacks Investment Research downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. downgraded South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 target price for the company. in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $34.43.

South Jersey Industries Profile

South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.

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Institutional Ownership by Quarter for South Jersey Industries (NYSE:SJI)

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