Here’s Why FPA Invested in South Jersey Industries (SJI)

Investment management company First Pacific Advisors recently released its “Queens Road Small Cap Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund outperformed its benchmark index and returned -11.46% compared to a -15.28% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, First Pacific Advisors discussed stocks like South Jersey Industries, Inc. (NYSE:SJI). Headquartered in Folsom, New Jersey, South Jersey Industries, Inc. (NYSE:SJI) is an energy products and services company. On August 26, 2022, South Jersey Industries, Inc. (NYSE:SJI) stock closed at $34.01 per share. One-month return of South Jersey Industries, Inc. (NYSE:SJI) was -1.59%, and its shares gained 39.21% of their value over the last 52 weeks. South Jersey Industries, Inc. (NYSE:SJI) has a market capitalization of $4.165 billion.

Here is what First Pacific Advisors specifically said about South Jersey Industries, Inc. (NYSE:SJI):

“South Jersey Industries, Inc. (NYSE:SJI) shares rose 40% on Feb. 24, 2022, on news that Infrastructure Investment Funds, a private equity fund managed by JP Morgan Investment Management, would take the company private. The deal is scheduled to close in the fourth quarter of 2022.”

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South Jersey Industries, Inc. (NYSE:SJI) is not on the list of 30 Most Popular Stocks Among Hedge Funds. South Jersey Industries, Inc. (NYSE:SJI) was held by 33 hedge fund portfolios at the end of the second quarter compared to 36 in the previous quarter.

We discussed South Jersey Industries, Inc. (NYSE:SJI) in another article and shared Diamond Hill Capital’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.