Nitor Capital Management LLC Makes New Investment in St. Joe Company (The) $JOE

Key Points

• Nitor Capital Management acquired 526,496 shares of St. Joe, valued at approximately $33.0 million, making the stock its second-largest holding and representing 22.3% of its portfolio. Institutional investors collectively own 86.67% of the company.
• St. Joe reported quarterly earnings of $0.71 per share on revenue of $158.86 million. Shares opened at $69.20, near the upper end of their 52-week range, with a market capitalization of approximately $3.94 billion.
• The company declared a quarterly dividend of $0.16, equivalent to $0.64 annually and a 0.9% yield. Weiss Ratings upgraded the stock from “hold” to “buy,” while major shareholder Bruce R. Berkowitz and other insiders sold shares in recent months.

Nitor Capital Management LLC acquired a new position in shares of St. Joe Company (The) (NYSE:JOE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 526,496 shares of the financial services provider's stock, valued at approximately $32,974,000. St. Joe comprises 22.3% of Nitor Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Nitor Capital Management LLC owned 0.92% of St. Joe at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of St. Joe during the 2nd quarter worth approximately $385,050,000. State Street Corp raised its stake in St. Joe by 1.5% in the 4th quarter. State Street Corp now owns 1,430,583 shares of the financial services provider's stock valued at $84,934,000 after acquiring an additional 21,309 shares during the period. Geode Capital Management LLC lifted its holdings in St. Joe by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 994,963 shares of the financial services provider's stock valued at $59,081,000 after purchasing an additional 11,621 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in St. Joe by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 429,376 shares of the financial services provider's stock valued at $25,492,000 after purchasing an additional 21,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of St. Joe by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 364,009 shares of the financial services provider's stock valued at $21,611,000 after purchasing an additional 3,007 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

St. Joe Trading Up 0.4%

Shares of NYSE:JOE opened at $69.20 on Monday. The company has a market capitalization of $3.94 billion, a P/E ratio of 32.34 and a beta of 1.29. St. Joe Company has a 1 year low of $46.37 and a 1 year high of $73.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.84 and a quick ratio of 1.84. The business's 50 day simple moving average is $64.06 and its 200 day simple moving average is $65.92.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. The firm had revenue of $158.86 million during the quarter. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be given a $0.16 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. St. Joe's dividend payout ratio (DPR) is presently 29.91%.

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the transaction, the insider owned 15,073,624 shares of the company's stock, valued at $990,487,833.04. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 506,500 shares of company stock valued at $33,116,206 over the last three months. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of St. Joe from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, St. Joe presently has an average rating of "Buy".

St. Joe Company Profile

The St. Joe Company NYSE: JOE is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe's core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.

Founded in 1936 as a paper manufacturing company, St.

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