New Jersey Resources Co.Gains Strong Institutional Support

2 min read | November 19, 2024 03:04 AM PST | By Team Kalkine Media

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Quest Partners LLC significantly boosts holdings in New Jersey Resources Co. (NJR)

Multiple institutional investors increase their stake in the utilities provider

Institutional ownership reflects strong confidence in New Jersey Resources

Quest Partners LLC has recently expanded its position in New Jersey Resources Co. (NYSE:NJR), significantly increasing its holdings. During the third quarter, Quest Partners LLC raised its investment by a substantial percentage, acquiring a notable number of additional shares. This increase in holdings highlights Quest Partners’ positive outlook on New Jersey Resources, a leading utility services provider.

Beyond Quest Partners, several other institutional investors have shown growing interest in New Jersey Resources. Russell Investments Group Ltd. increased its stake in the company during the first quarter, demonstrating added confidence in the utilities provider. Avantax Advisory Services Inc. and the State Board of Administration of Florida Retirement System also raised their holdings, reflecting a favorable view on NJR’s performance and potential. The State Board of Administration, in particular, saw a substantial increase, adding a significant number of shares during this period.

Ameritas Investment Partners Inc. made a similar move, enhancing its position in New Jersey Resources with a slight increase in shares owned. Canada Life Assurance Co., another major player, also expanded its investment, reinforcing institutional confidence in NJR’s growth trajectory. With approximately 70% of NJR shares held by institutions, New Jersey Resources continues to attract strong support from prominent investors in the sector.

These growing institutional investments underscore a positive sentiment surrounding New Jersey Resources and suggest strong backing from leading financial organizations.

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