NYSE:SJW

SJW Group is a holding company operating through four wholly-owned subsidiaries San Jose Water Company, SJW Land Company, SJWTX Inc., and Connecticut Water Service. SJW’s operating segments are water utility services (~98% of 2018 revenues) and real estate services (2%). The group as a whole provides water service to ~231,000 connections in the metropolitan San Jose, California area and 16,000 connections in the growing region between San Antonio and Austin, Texas. San Jose Water Company provides non-tariffed services, such as water system operations, maintenance agreements and antenna site leases under agreements with municipalities and other utilities. SJW also owns undeveloped land in the states of California and Tennessee and owns and operates commercial buildings in Tennessee. The water utility business is highly capital-intensive and subject to various regulations issued by the EPA and other environmental regulatory bodies. These form strong entry barriers for newcomers.